First Trust Advisors LP Invests $3.61 Million in Byline Bancorp, Inc. (NYSE:BY)

First Trust Advisors LP purchased a new stake in Byline Bancorp, Inc. (NYSE:BY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 124,445 shares of the company's stock, valued at approximately $3,609,000. First Trust Advisors LP owned about 0.28% of Byline Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Boston Partners raised its holdings in Byline Bancorp by 818.2% in the 4th quarter. Boston Partners now owns 722,295 shares of the company's stock valued at $20,839,000 after buying an additional 643,628 shares during the last quarter. Next Century Growth Investors LLC acquired a new position in shares of Byline Bancorp during the fourth quarter worth $9,599,000. JPMorgan Chase & Co. grew its stake in shares of Byline Bancorp by 71.6% in the third quarter. JPMorgan Chase & Co. now owns 557,242 shares of the company's stock worth $14,917,000 after purchasing an additional 232,530 shares during the last quarter. Wellington Management Group LLP raised its position in Byline Bancorp by 16.6% during the 4th quarter. Wellington Management Group LLP now owns 478,359 shares of the company's stock worth $13,872,000 after purchasing an additional 68,000 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Byline Bancorp by 7.7% in the 4th quarter. American Century Companies Inc. now owns 634,446 shares of the company's stock valued at $18,399,000 after buying an additional 45,228 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling

In related news, insider Thomas Abraham sold 6,658 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was 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 in the company, valued at approximately $1,797,458.52. This represents a 9.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 30.06% of the stock is owned by company insiders.

Byline Bancorp Stock Performance

Shares of Byline Bancorp stock traded up $0.09 on Thursday, reaching $26.04. 9,799 shares of the company's stock were exchanged, compared to its average volume of 154,114. The firm's 50-day moving average is $25.67 and its two-hundred day moving average is $28.12. The company has a market capitalization of $1.20 billion, a P/E ratio of 9.43 and a beta of 0.85. Byline Bancorp, Inc. has a 52 week low of $21.96 and a 52 week high of $32.89.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.03. The business had revenue of $103.08 million during the quarter, compared to analysts' expectations of $100.82 million. Byline Bancorp had a net margin of 19.33% and a return on equity of 11.61%. On average, analysts expect that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

Byline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Tuesday, May 6th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, May 6th. Byline Bancorp's payout ratio is 14.81%.

Analysts Set New Price Targets

BY has been the topic of a number of recent analyst reports. Stephens lifted their price objective on Byline Bancorp from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 29th. Hovde Group upped their price objective on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an "outperform" rating in a research note on Monday, January 27th.

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.