Princeton Capital Management LLC Buys 1,200 Shares of Byline Bancorp, Inc. (NYSE:BY)

Princeton Capital Management LLC increased its stake in Byline Bancorp, Inc. (NYSE:BY) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,200 shares of the company’s stock after buying an additional 1,200 shares during the period. Princeton Capital Management LLC’s holdings in Byline Bancorp were worth $325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. raised its position in shares of Byline Bancorp by 21.4% in the 3rd quarter. Principal Financial Group Inc. now owns 20,164 shares of the company’s stock worth $540,000 after acquiring an additional 3,550 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Byline Bancorp by 6.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,256 shares of the company’s stock worth $2,015,000 after purchasing an additional 4,476 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Byline Bancorp by 22.5% in the third quarter. The Manufacturers Life Insurance Company now owns 15,198 shares of the company’s stock worth $407,000 after purchasing an additional 2,795 shares in the last quarter. FMR LLC raised its holdings in Byline Bancorp by 7.3% in the third quarter. FMR LLC now owns 1,035,844 shares of the company’s stock worth $27,730,000 after purchasing an additional 70,863 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Byline Bancorp during the 3rd quarter valued at about $127,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Byline Bancorp Trading Up 1.6 %

Shares of BY opened at $27.07 on Tuesday. The firm has a market cap of $1.21 billion, a PE ratio of 9.81 and a beta of 1.15. Byline Bancorp, Inc. has a 1-year low of $19.70 and a 1-year high of $32.89. The firm has a fifty day simple moving average of $28.34 and a two-hundred day simple moving average of $28.42.

Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. Byline Bancorp had a return on equity of 11.61% and a net margin of 19.33%. As a group, research analysts forecast that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were paid a $0.10 dividend. The ex-dividend date was Tuesday, February 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.48%. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.09. Byline Bancorp’s dividend payout ratio (DPR) is 14.49%.

Byline Bancorp declared that its Board of Directors has approved a stock buyback plan on Thursday, December 5th that allows the company to repurchase 1,250,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Thomas Abraham sold 6,658 shares of Byline Bancorp stock in a transaction 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 transaction, the insider now owns 62,282 shares in the company, valued at approximately $1,797,458.52. The trade was a 9.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 30.06% 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.