American Century Companies Inc. Acquires 68,230 Shares of Byline Bancorp, Inc. $BY

American Century Companies Inc. raised its holdings in Byline Bancorp, Inc. (NYSE:BY) by 9.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 803,287 shares of the company’s stock after purchasing an additional 68,230 shares during the quarter. American Century Companies Inc. owned 1.75% of Byline Bancorp worth $22,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in Byline Bancorp by 99.5% in the third quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock worth $30,000 after acquiring an additional 546 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Byline Bancorp during the 3rd quarter valued at approximately $46,000. Farther Finance Advisors LLC increased its stake in shares of Byline Bancorp by 26.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,051 shares of the company’s stock worth $85,000 after purchasing an additional 643 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Byline Bancorp by 319.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,904 shares of the company’s stock worth $104,000 after purchasing an additional 2,973 shares during the last quarter. Finally, LSV Asset Management bought a new position in Byline Bancorp during the third quarter valued at $139,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BY shares. Piper Sandler reiterated an “overweight” rating and set a $37.00 price target on shares of Byline Bancorp in a research note on Tuesday, January 27th. Zacks Research upgraded shares of Byline Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Byline Bancorp in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $33.67.

Byline Bancorp Stock Up 0.4%

BY stock opened at $30.94 on Tuesday. The stock has a 50-day simple moving average of $31.47 and a two-hundred day simple moving average of $29.40. Byline Bancorp, Inc. has a twelve month low of $22.63 and a twelve month high of $33.89. The firm has a market capitalization of $1.41 billion, a PE ratio of 10.74 and a beta of 0.84. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.27.

Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, January 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. The business had revenue of $117.01 million for the quarter, compared to analysts’ expectations of $112.51 million. Byline Bancorp had a net margin of 20.54% and a return on equity of 11.19%. On average, equities analysts predict that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.6%. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, February 3rd. Byline Bancorp’s dividend payout ratio (DPR) is currently 16.67%.

Byline Bancorp declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 11th that authorizes the company to repurchase $2.25 million in shares. This repurchase authorization authorizes the company to purchase up to 0.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

About Byline Bancorp

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.