State Street Corp Buys 51,603 Shares of Byline Bancorp, Inc. (NYSE:BY)

State Street Corp raised its stake in Byline Bancorp, Inc. (NYSE:BY) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 845,405 shares of the company’s stock after acquiring an additional 51,603 shares during the quarter. State Street Corp owned about 1.90% of Byline Bancorp worth $22,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of BY. Dimensional Fund Advisors LP boosted its holdings in Byline Bancorp by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,855,547 shares of the company’s stock valued at $44,049,000 after acquiring an additional 106,940 shares during the last quarter. American Century Companies Inc. lifted its position in Byline Bancorp by 20.4% during the 2nd quarter. American Century Companies Inc. now owns 518,727 shares of the company’s stock valued at $12,315,000 after purchasing an additional 87,796 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Byline Bancorp by 173.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,780 shares of the company’s stock valued at $3,153,000 after purchasing an additional 74,709 shares during the last quarter. FMR LLC grew its position in shares of Byline Bancorp by 7.3% during the 3rd quarter. FMR LLC now owns 1,035,844 shares of the company’s stock worth $27,730,000 after buying an additional 70,863 shares during the period. Finally, Fiducient Advisors LLC acquired a new stake in shares of Byline Bancorp during the 3rd quarter worth approximately $1,730,000. 67.73% of the stock is owned by institutional investors.

Byline Bancorp Stock Performance

NYSE BY opened at $29.22 on Monday. Byline Bancorp, Inc. has a 52-week low of $19.70 and a 52-week high of $32.89. The business has a 50 day simple moving average of $29.67 and a 200 day simple moving average of $27.04. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 10.63 and a beta of 1.15.

Byline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.23%. Byline Bancorp’s payout ratio is 13.09%.

Byline Bancorp declared that its board has authorized a stock repurchase program on Thursday, December 5th that permits the company to buyback 1,250,000 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BY shares. Keefe, Bruyette & Woods raised their price objective on shares of Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler restated an “overweight” rating and issued a $34.00 price target 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.