Connor Clark & Lunn Investment Management Ltd. Acquires 4,476 Shares of Byline Bancorp, Inc. (NYSE:BY)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Byline Bancorp, Inc. (NYSE:BY) by 6.3% during the third quarter, HoldingsChannel reports. The fund owned 75,256 shares of the company’s stock after purchasing an additional 4,476 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Byline Bancorp were worth $2,015,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Byline Bancorp by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,855,547 shares of the company’s stock worth $44,049,000 after purchasing an additional 106,940 shares during the last quarter. American Century Companies Inc. grew its position in shares of Byline Bancorp by 20.4% in the 2nd quarter. American Century Companies Inc. now owns 518,727 shares of the company’s stock valued at $12,315,000 after buying an additional 87,796 shares during the last quarter. Fiducient Advisors LLC acquired a new stake in shares of Byline Bancorp in the third quarter valued at about $1,730,000. Vanguard Group Inc. raised its position in shares of Byline Bancorp by 3.4% during the first quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock worth $33,700,000 after acquiring an additional 51,682 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Byline Bancorp by 48.7% in the third quarter. Assenagon Asset Management S.A. now owns 140,630 shares of the company’s stock worth $3,765,000 after acquiring an additional 46,052 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Byline Bancorp Stock Performance

Shares of BY opened at $32.04 on Tuesday. The firm has a market cap of $1.42 billion, a PE ratio of 11.65 and a beta of 1.12. Byline Bancorp, Inc. has a 52-week low of $19.70 and a 52-week high of $32.89. The business’s 50 day moving average price is $27.71 and its two-hundred day moving average price is $25.97.

Byline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.12%. The ex-dividend date was Tuesday, November 5th. Byline Bancorp’s dividend payout ratio is presently 13.09%.

Insiders Place Their Bets

In other Byline Bancorp news, insider Brogan Ptacin sold 11,812 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $27.65, for a total value of $326,601.80. Following the transaction, the insider now owns 25,588 shares in the company, valued at approximately $707,508.20. This represents a 31.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 30.06% of the company’s stock.

Analysts Set New Price Targets

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

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.