Wellington Management Group LLP Sells 535,488 Shares of Byline Bancorp, Inc. $BY

Wellington Management Group LLP trimmed its holdings in Byline Bancorp, Inc. (NYSE:BY) by 52.3% during the second quarter, Holdings Channel reports. The firm owned 488,460 shares of the company’s stock after selling 535,488 shares during the quarter. Wellington Management Group LLP’s holdings in Byline Bancorp were worth $18,395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in Byline Bancorp during the first quarter worth approximately $1,466,000. Hsbc Holdings PLC acquired a new position in Byline Bancorp in the second quarter valued at approximately $1,007,000. BlackRock Inc. bought a new position in shares of Byline Bancorp during the 2nd quarter worth approximately $132,220,000. PDT Partners LLC bought a new position in shares of Byline Bancorp during the 2nd quarter worth approximately $1,029,000. Finally, Deutsche Bank AG bought a new position in shares of Byline Bancorp during the 2nd quarter worth approximately $1,124,000. Institutional investors own 67.73% of the company’s stock.

Byline Bancorp Price Performance

BY opened at $38.81 on Monday. Byline Bancorp, Inc. has a fifty-two week low of $25.57 and a fifty-two week high of $40.03. The firm has a market capitalization of $1.75 billion, a P/E ratio of 11.73 and a beta of 0.71. The company’s 50-day moving average is $38.32 and its 200 day moving average is $34.74.

Byline Bancorp (NYSE:BY) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.79 by $0.12. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.84%. The company had revenue of $117.71 million during the quarter, compared to the consensus estimate of $115.78 million. On average, equities research analysts expect that Byline Bancorp, Inc. will post 3.35 earnings per share for the current year.

Byline Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 4th. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.12. Byline Bancorp’s payout ratio is presently 16.92%.

Insider Buying and Selling

In related news, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the sale, the insider owned 11,535,145 shares of the company’s stock, valued at approximately $451,024,169.50. This represents a 2.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Antonio del Valle Perochena sold 300,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the completion of the sale, the director owned 11,535,145 shares in the company, valued at $451,024,169.50. This represents a 2.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 622,171 shares of company stock valued at $24,328,816. Corporate insiders own 29.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BY. Stephens set a $40.00 price objective on shares of Byline Bancorp in a research note on Monday, July 27th. Hovde Group increased their target price on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Byline Bancorp has an average rating of “Moderate Buy” and an average price target of $43.00.

Byline Bancorp Company Profile

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.