American Century Companies Inc. Buys 55,858 Shares of Byline Bancorp, Inc. $BY

Key Points

• American Century Companies Inc. increased its stake in Byline Bancorp by 8.8%, owning a total of 690,304 shares valued at approximately $18.06 million.
• Byline Bancorp recently reported $0.75 EPS for the quarter, exceeding expectations and achieving a return on equity of 10.98%.
• The firm announced a quarterly dividend of $0.10 per share, resulting in an annualized yield of 1.4%.

American Century Companies Inc. increased its holdings in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 8.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 690,304 shares of the company's stock after purchasing an additional 55,858 shares during the quarter. American Century Companies Inc. owned 1.50% of Byline Bancorp worth $18,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Invesco Ltd. increased its position in Byline Bancorp by 0.9% during the fourth quarter. Invesco Ltd. now owns 50,451 shares of the company's stock valued at $1,463,000 after acquiring an additional 439 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Byline Bancorp by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,721 shares of the company's stock valued at $514,000 after acquiring an additional 620 shares during the last quarter. Principal Financial Group Inc. increased its position in Byline Bancorp by 3.4% in the first quarter. Principal Financial Group Inc. now owns 22,758 shares of the company's stock worth $595,000 after buying an additional 740 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Byline Bancorp by 88.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the company's stock worth $60,000 after buying an additional 963 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in Byline Bancorp by 5.8% in the fourth quarter. MetLife Investment Management LLC now owns 19,049 shares of the company's stock worth $552,000 after buying an additional 1,038 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Byline Bancorp Stock Down 0.1%

NYSE BY traded down $0.04 during trading on Friday, hitting $29.02. 38,060 shares of the stock traded hands, compared to its average volume of 189,939. The company has a market capitalization of $1.33 billion, a P/E ratio of 10.83 and a beta of 0.86. Byline Bancorp, Inc. has a 12-month low of $22.63 and a 12-month high of $32.89. The firm has a 50-day simple moving average of $27.30 and a 200-day simple moving average of $26.69.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $110.45 million during the quarter, compared to analyst estimates of $106.95 million. Byline Bancorp had a return on equity of 10.98% and a net margin of 19.03%. As a group, research analysts predict that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

Byline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.40 dividend on an annualized basis and a yield of 1.4%. Byline Bancorp's payout ratio is presently 14.93%.

Wall Street Analyst Weigh In

Separately, Hovde Group set a $32.00 price target on Byline Bancorp in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Byline Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $33.25.

Insiders Place Their Bets

In related news, EVP Megan Biggam sold 8,576 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $26.75, for a total transaction of $229,408.00. Following the completion of the transaction, the executive vice president owned 17,630 shares in the company, valued at $471,602.50. The trade was a 32.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phillip R. Cabrera acquired 2,360 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired 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 in the company, valued at $98,010. This trade represents a 147.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 2,584 shares of company stock valued at $64,100. 28.79% of the stock is owned by company insiders.

About Byline Bancorp

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.