Wellington Management Group LLP Has $11.31 Million Position in Byline Bancorp, Inc. $BY

Key Points

• Wellington Management Group LLP reduced its stake in Byline Bancorp by 9.6%, now holding approximately 0.94% of the company with a value of $11.3 million.
• Byline Bancorp reported earnings per share (EPS) of $0.75 for the latest quarter, surpassing analysts' expectations of $0.67 and achieving a revenue of $110.45 million.
• The company announced a quarterly dividend of $0.10 per share, which represents an annualized yield of 1.4% and a payout ratio of 14.93%.

Wellington Management Group LLP trimmed its position in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 432,267 shares of the company's stock after selling 46,092 shares during the period. Wellington Management Group LLP owned 0.94% of Byline Bancorp worth $11,308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings 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 valued at $61,747,000 after acquiring an additional 94,849 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Byline Bancorp by 8.8% during the 1st quarter. American Century Companies Inc. now owns 690,304 shares of the company's stock valued at $18,058,000 after acquiring an additional 55,858 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Byline Bancorp by 1.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 522,749 shares of the company's stock valued at $15,160,000 after acquiring an additional 8,542 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Byline Bancorp by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 325,516 shares of the company's stock valued at $9,440,000 after acquiring an additional 3,343 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Byline Bancorp by 7.1% during the 4th quarter. Northern Trust Corp now owns 273,390 shares of the company's stock valued at $7,928,000 after acquiring an additional 18,236 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Byline Bancorp Price Performance

NYSE:BY traded down $0.07 during trading hours on Tuesday, reaching $28.84. The company's stock had a trading volume of 178,567 shares, compared to its average volume of 184,773. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 10.76 and a beta of 0.91. Byline Bancorp, Inc. has a one year low of $22.63 and a one year high of $32.89. The business's 50-day moving average is $27.50 and its 200-day moving average is $26.63.

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

Byline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend 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%.

Insiders Place Their Bets

In other news, Director Phillip R. Cabrera bought 2,360 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was purchased at an average price of $24.75 per share, with a total value of $58,410.00. Following the transaction, the director directly owned 3,960 shares in the company, valued at approximately $98,010. The trade was a 147.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible 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 transaction, the executive vice president directly owned 17,630 shares of the company's stock, 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 three months, insiders have acquired 2,584 shares of company stock valued at $64,100. Company insiders own 28.79% of the company's stock.

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.