Barclays PLC Has $1.58 Million Holdings in Byline Bancorp, Inc. (NYSE:BY)

Barclays PLC boosted its holdings in shares of Byline Bancorp, Inc. (NYSE:BY) by 48.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,874 shares of the company’s stock after purchasing an additional 19,187 shares during the period. Barclays PLC owned 0.13% of Byline Bancorp worth $1,577,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BY. Bank of New York Mellon Corp raised its position in Byline Bancorp by 16.1% in the 2nd 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Byline Bancorp by 10.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,070 shares of the company’s stock worth $310,000 after buying an additional 1,277 shares during the period. Principal Financial Group Inc. grew its position in shares of Byline Bancorp by 13.2% during the 2nd quarter. Principal Financial Group Inc. now owns 16,614 shares of the company’s stock worth $394,000 after buying an additional 1,932 shares during the period. nVerses Capital LLC bought a new stake in shares of Byline Bancorp during the second quarter worth approximately $88,000. Finally, Rhumbline Advisers lifted its holdings in Byline Bancorp by 23.1% in the second quarter. Rhumbline Advisers now owns 51,183 shares of the company’s stock valued at $1,215,000 after buying an additional 9,599 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented 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 report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $34.00 price objective on shares of Byline Bancorp in a research note on Tuesday, October 29th.

Byline Bancorp Stock Performance

Shares of NYSE:BY opened at $28.96 on Friday. The company has a 50 day moving average price of $29.88 and a two-hundred day moving average price of $27.19. The company has a market capitalization of $1.29 billion, a PE ratio of 10.53 and a beta of 1.15. Byline Bancorp, Inc. has a 52 week low of $19.70 and a 52 week high of $32.89.

Byline Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.09 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.36 annualized dividend and a yield of 1.24%. Byline Bancorp’s dividend payout ratio is presently 13.09%.

Byline Bancorp declared that its Board of Directors has authorized a share buyback program on Thursday, December 5th that authorizes the company to repurchase 1,250,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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.