T. Rowe Price Investment Management Inc. Makes New Investment in Byline Bancorp, Inc. $BY

Key Points

• T. Rowe Price Investment Management Inc. invested approximately $7.79 million in Byline Bancorp, acquiring 297,786 shares, equating to about 0.65% ownership as per the recent SEC filing.
• Byline Bancorp has received analyst ratings with a consensus "Moderate Buy" and a price target of $33.25, following a quarterly earnings report that beat expectations with $0.75 EPS.
• The company also declared a quarterly dividend of $0.10 per share, with a 1.4% dividend yield based on an annual payout of $0.40.

T. Rowe Price Investment Management Inc. acquired a new position in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 297,786 shares of the company's stock, valued at approximately $7,791,000. T. Rowe Price Investment Management Inc. owned about 0.65% of Byline Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in Byline Bancorp in the first quarter valued at about $6,848,000. First Trust Advisors LP purchased a new position in shares of Byline Bancorp during the 4th quarter worth approximately $3,609,000. Dimensional Fund Advisors LP increased its stake in shares of Byline Bancorp by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,129,208 shares of the company's stock worth $61,747,000 after purchasing an additional 94,849 shares in the last quarter. Wellington Management Group LLP grew its stake in Byline Bancorp by 16.6% in the 4th quarter. Wellington Management Group LLP now owns 478,359 shares of the company's stock worth $13,872,000 after acquiring an additional 68,000 shares during the period. Finally, American Century Companies Inc. grew its stake in Byline Bancorp by 8.8% in the 1st quarter. American Century Companies Inc. now owns 690,304 shares of the company's stock worth $18,058,000 after acquiring an additional 55,858 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

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

Byline Bancorp Price Performance

Byline Bancorp stock traded down $0.20 during trading hours on Friday, hitting $28.86. The company had a trading volume of 45,246 shares, compared to its average volume of 189,984. The firm's fifty day moving average is $27.30 and its 200-day moving average is $26.69. Byline Bancorp, Inc. has a fifty-two week low of $22.63 and a fifty-two week high of $32.89. The firm has a market capitalization of $1.32 billion, a P/E ratio of 10.77 and a beta of 0.86.

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

Byline Bancorp Dividend Announcement

The company 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 currently 14.93%.

Insider Buying and Selling

In related news, Director Phillip R. Cabrera purchased 2,360 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were purchased at an average price of $24.75 per share, with a total value of $58,410.00. Following the completion of the purchase, the director owned 3,960 shares in the company, valued at $98,010. This represents a 147.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the executive vice president directly owned 17,630 shares in the company, valued at approximately $471,602.50. This represents a 32.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 2,584 shares of company stock valued at $64,100. Corporate insiders own 28.79% of the company's stock.

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.