Principal Financial Group Inc. Has $540,000 Stake in Byline Bancorp, Inc. (NYSE:BY)

Principal Financial Group Inc. grew its position in Byline Bancorp, Inc. (NYSE:BY) by 21.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,164 shares of the company’s stock after buying an additional 3,550 shares during the quarter. Principal Financial Group Inc.’s holdings in Byline Bancorp were worth $540,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Byline Bancorp by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock valued at $33,700,000 after acquiring an additional 51,682 shares in the last quarter. Comerica Bank grew its holdings in shares of Byline Bancorp by 17,066.0% during the first quarter. Comerica Bank now owns 8,583 shares of the company’s stock worth $186,000 after purchasing an additional 8,533 shares during the last quarter. CWM LLC increased its stake in shares of Byline Bancorp by 104.5% in the second quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $31,000 after buying an additional 676 shares during the period. Bank of New York Mellon Corp raised its holdings in Byline Bancorp by 16.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 191,122 shares of the company’s stock valued at $4,537,000 after buying an additional 26,539 shares during the last quarter. Finally, Bailard Inc. boosted its position in Byline Bancorp by 72.3% during the 2nd quarter. Bailard Inc. now owns 19,300 shares of the company’s stock worth $458,000 after buying an additional 8,100 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Byline Bancorp

In other Byline Bancorp news, insider Brogan Ptacin sold 11,812 shares of Byline Bancorp stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $27.65, for a total value of $326,601.80. Following the completion of the sale, the insider now directly owns 25,588 shares of the company’s stock, valued at approximately $707,508.20. The trade was a 31.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 30.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on BY. Stephens boosted their price objective on shares of Byline Bancorp from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods increased their price target on Byline Bancorp from $25.00 to $29.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Finally, Piper Sandler restated an “overweight” rating and set a $34.00 price objective on shares of Byline Bancorp in a research report on Tuesday, October 29th.

Byline Bancorp Stock Up 1.9 %

BY stock opened at $31.94 on Monday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 11.61 and a beta of 1.12. The company’s fifty day simple moving average is $27.71 and its 200 day simple moving average is $25.97. Byline Bancorp, Inc. has a 12-month low of $19.70 and a 12-month high of $32.53.

Byline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Tuesday, November 5th. Byline Bancorp’s dividend payout ratio is 13.09%.

Byline Bancorp Company 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.