Principal Financial Group Inc. Has $595,000 Position in Byline Bancorp, Inc. (NYSE:BY)

Principal Financial Group Inc. lifted its stake in shares of Byline Bancorp, Inc. (NYSE:BY) by 3.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,758 shares of the company’s stock after acquiring an additional 740 shares during the period. Principal Financial Group Inc.’s holdings in Byline Bancorp were worth $595,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Next Century Growth Investors LLC bought a new stake in Byline Bancorp during the 4th quarter valued at $9,599,000. First Trust Advisors LP bought a new stake in Byline Bancorp during the 4th quarter valued at $3,609,000. Dimensional Fund Advisors LP increased its stake in Byline Bancorp by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,129,208 shares of the company’s stock valued at $61,747,000 after purchasing an additional 94,849 shares in the last quarter. Wellington Management Group LLP increased its stake in Byline Bancorp by 16.6% during the 4th quarter. Wellington Management Group LLP now owns 478,359 shares of the company’s stock valued at $13,872,000 after purchasing an additional 68,000 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Byline Bancorp by 146.2% during the 4th quarter. Jane Street Group LLC now owns 89,161 shares of the company’s stock valued at $2,586,000 after purchasing an additional 52,952 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group set a $32.00 price target on shares of Byline Bancorp in a research note on Monday, May 19th.

Byline Bancorp Price Performance

Shares of BY stock opened at $27.70 on Monday. The firm has a 50-day moving average of $26.65 and a 200-day moving average of $26.94. The company has a market cap of $1.28 billion, a P/E ratio of 10.26 and a beta of 0.84. Byline Bancorp, Inc. has a one year low of $22.63 and a one year high of $32.89.

Byline Bancorp (NYSE:BY) last announced its earnings results on Thursday, April 24th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $103.08 million during the quarter, compared to the consensus estimate of $100.82 million. Byline Bancorp had a net margin of 19.10% and a return on equity of 11.00%. As a group, research analysts expect that Byline Bancorp, Inc. will post 2.6 earnings per share for the current fiscal year.

Byline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Tuesday, May 6th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.40 annualized dividend and a dividend yield of 1.44%. Byline Bancorp’s dividend payout ratio is currently 14.81%.

Insider Activity

In other news, EVP Megan Biggam sold 3,611 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $26.75, for a total value of $96,594.25. Following the completion of the sale, the executive vice president owned 17,630 shares in the company, valued at $471,602.50. This represents a 17.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Phillip R. Cabrera bought 2,360 shares of the stock in a transaction dated Wednesday, June 11th. The stock was purchased at an average price of $24.75 per share, with a total value of $58,410.00. Following the acquisition, the director owned 3,960 shares of the company’s stock, valued at $98,010. The trade was a 147.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 28.79% of the company’s stock.

Byline Bancorp Profile

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.