Connor Clark & Lunn Investment Management Ltd. Buys 4,476 Shares of Byline Bancorp, Inc. (NYSE:BY)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 6.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,256 shares of the company’s stock after acquiring an additional 4,476 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of Byline Bancorp worth $2,015,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Byline Bancorp by 3.4% in the first quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock valued at $33,700,000 after acquiring an additional 51,682 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Byline Bancorp by 16.1% during the second quarter. Bank of New York Mellon Corp now owns 191,122 shares of the company’s stock worth $4,537,000 after purchasing an additional 26,539 shares during the period. Bailard Inc. raised its position in shares of Byline Bancorp by 72.3% in the second quarter. Bailard Inc. now owns 19,300 shares of the company’s stock valued at $458,000 after buying an additional 8,100 shares in the last quarter. Fiducient Advisors LLC bought a new stake in shares of Byline Bancorp in the third quarter valued at approximately $1,730,000. Finally, Comerica Bank grew its position in Byline Bancorp by 17,066.0% during the first quarter. Comerica Bank now owns 8,583 shares of the company’s stock worth $186,000 after buying an additional 8,533 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In other news, insider Brogan Ptacin sold 11,812 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $27.65, for a total value of $326,601.80. Following the completion of the transaction, the insider now directly owns 25,588 shares in the company, valued at approximately $707,508.20. This represents a 31.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 30.06% of the stock is currently owned by corporate insiders.

Byline Bancorp Stock Performance

Byline Bancorp stock opened at $32.04 on Tuesday. The stock has a fifty day moving average of $27.71 and a 200-day moving average of $25.97. The stock has a market capitalization of $1.42 billion, a P/E ratio of 11.65 and a beta of 1.12. Byline Bancorp, Inc. has a 52 week low of $19.70 and a 52 week high of $32.89.

Byline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were issued a $0.09 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.12%. Byline Bancorp’s dividend payout ratio (DPR) is currently 13.09%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BY shares. Stephens upped their target price on Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods upped their price objective on shares of Byline Bancorp from $25.00 to $29.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, Piper Sandler restated an “overweight” rating and issued a $34.00 target price on shares of Byline Bancorp in a research report on Tuesday, October 29th.

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.