Sei Investments Co. Acquires 7,371 Shares of Byline Bancorp, Inc. (NYSE:BY)

Sei Investments Co. boosted its holdings in Byline Bancorp, Inc. (NYSE:BY) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,381 shares of the company’s stock after purchasing an additional 7,371 shares during the period. Sei Investments Co. owned about 0.40% of Byline Bancorp worth $5,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BY. The Manufacturers Life Insurance Company increased its position in shares of Byline Bancorp by 22.5% in the third quarter. The Manufacturers Life Insurance Company now owns 15,198 shares of the company’s stock valued at $407,000 after acquiring an additional 2,795 shares during the last quarter. FMR LLC grew its stake in shares of Byline Bancorp by 7.3% in the third quarter. FMR LLC now owns 1,035,844 shares of the company’s stock valued at $27,730,000 after buying an additional 70,863 shares in the last quarter. Quantbot Technologies LP bought a new stake in Byline Bancorp during the third quarter worth $127,000. BNP Paribas Financial Markets lifted its stake in Byline Bancorp by 89.9% in the third quarter. BNP Paribas Financial Markets now owns 13,093 shares of the company’s stock valued at $350,000 after acquiring an additional 6,198 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in shares of Byline Bancorp in the 3rd quarter valued at about $221,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Thomas Abraham sold 6,658 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $28.86, for a total transaction of $192,149.88. Following the completion of the sale, the insider now owns 62,282 shares of the company’s stock, valued at approximately $1,797,458.52. This represents a 9.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 30.06% of the stock is owned by company insiders.

Byline Bancorp Trading Up 1.0 %

Shares of NYSE BY opened at $26.42 on Wednesday. The firm has a market cap of $1.18 billion, a P/E ratio of 9.57 and a beta of 1.15. The business’s 50 day moving average is $28.13 and its 200-day moving average is $28.43. Byline Bancorp, Inc. has a 1-year low of $19.70 and a 1-year high of $32.89.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.08. Byline Bancorp had a return on equity of 11.61% and a net margin of 19.33%. Analysts forecast that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp announced that its Board of Directors has authorized a share buyback plan on Thursday, December 5th that allows the company to repurchase 1,250,000 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Byline Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, February 4th. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.51%. Byline Bancorp’s dividend payout ratio (DPR) is currently 14.49%.

Analysts Set New Price Targets

A number of research firms recently commented on BY. Hovde Group lifted their price target on Byline Bancorp from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Stephens boosted their target price on Byline Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their price target on Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

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.