HighTower Advisors LLC Takes $221,000 Position in Byline Bancorp, Inc. (NYSE:BY)

HighTower Advisors LLC acquired a new position in Byline Bancorp, Inc. (NYSE:BY) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,238 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System lifted its position in Byline Bancorp by 25.3% in the third quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock worth $76,000 after purchasing an additional 574 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Byline Bancorp by 8.5% in the third quarter. Chicago Partners Investment Group LLC now owns 7,934 shares of the company’s stock valued at $212,000 after buying an additional 619 shares during the period. Point72 Asset Management L.P. bought a new position in Byline Bancorp during the second quarter valued at about $26,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Byline Bancorp by 10.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,070 shares of the company’s stock worth $310,000 after acquiring an additional 1,277 shares during the period. Finally, Principal Financial Group Inc. raised its position in Byline Bancorp by 13.2% in the second quarter. Principal Financial Group Inc. now owns 16,614 shares of the company’s stock worth $394,000 after acquiring an additional 1,932 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BY. Keefe, Bruyette & Woods lifted their target price on shares of Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and set a $34.00 price objective on shares of Byline Bancorp in a research report on Tuesday, October 29th.

Byline Bancorp Trading Up 0.0 %

BY opened at $29.17 on Wednesday. Byline Bancorp, Inc. has a 1-year low of $19.70 and a 1-year high of $32.89. The stock has a market capitalization of $1.29 billion, a PE ratio of 10.61 and a beta of 1.15. The firm has a 50-day moving average price of $29.78 and a two-hundred day moving average price of $27.16.

Byline Bancorp declared that its board has initiated a share buyback program on Thursday, December 5th that permits the company to buyback 1,250,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Byline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were paid 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 1.23%. Byline Bancorp’s dividend payout ratio (DPR) is presently 13.09%.

Byline Bancorp Company 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.