Jane Street Group LLC Increases Stock Position in Byline Bancorp, Inc. (NYSE:BY)

Jane Street Group LLC raised its position in Byline Bancorp, Inc. (NYSE:BY) by 21.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,209 shares of the company’s stock after acquiring an additional 6,294 shares during the quarter. Jane Street Group LLC owned approximately 0.08% of Byline Bancorp worth $969,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. PDT Partners LLC lifted its stake in Byline Bancorp by 87.4% in the third quarter. PDT Partners LLC now owns 37,074 shares of the company’s stock worth $992,000 after acquiring an additional 17,288 shares during the period. State Street Corp lifted its position in shares of Byline Bancorp by 6.5% in the 3rd quarter. State Street Corp now owns 845,405 shares of the company’s stock worth $22,631,000 after purchasing an additional 51,603 shares during the period. FMR LLC boosted its stake 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 valued at $27,730,000 after purchasing an additional 70,863 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 valued at $4,537,000 after buying an additional 26,539 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Byline Bancorp by 89.9% during the third quarter. BNP Paribas Financial Markets now owns 13,093 shares of the company’s stock valued at $350,000 after buying an additional 6,198 shares during the period. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Byline Bancorp Price Performance

NYSE:BY opened at $29.00 on Wednesday. The firm has a market capitalization of $1.29 billion, a P/E ratio of 10.55 and a beta of 1.15. Byline Bancorp, Inc. has a one year low of $19.70 and a one year high of $32.89. The company’s 50-day simple moving average is $30.04 and its 200 day simple moving average is $27.40.

Byline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were given a $0.09 dividend. 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 1.24%. Byline Bancorp’s dividend payout ratio is currently 13.09%.

Byline Bancorp declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 5th that authorizes the company to buyback 1,250,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.