Byline Bancorp, Inc. (NYSE:BY) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its stake in Byline Bancorp, Inc. (NYSE:BY) by 481.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,462 shares of the company’s stock after buying an additional 5,350 shares during the period. Point72 Asset Management L.P.’s holdings in Byline Bancorp were worth $173,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of BY. Dimensional Fund Advisors LP lifted its stake in Byline Bancorp by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,855,547 shares of the company’s stock valued at $44,049,000 after buying an additional 106,940 shares in the last quarter. FMR LLC raised its holdings in shares of Byline Bancorp by 7.3% during the third quarter. FMR LLC now owns 1,035,844 shares of the company’s stock valued at $27,730,000 after acquiring an additional 70,863 shares during the period. American Century Companies Inc. lifted its position in shares of Byline Bancorp by 20.4% in the 2nd quarter. American Century Companies Inc. now owns 518,727 shares of the company’s stock valued at $12,315,000 after acquiring an additional 87,796 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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 period. Finally, Empowered Funds LLC grew its position in Byline Bancorp by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 155,207 shares of the company’s stock worth $4,155,000 after purchasing an additional 7,906 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Byline Bancorp Stock Down 0.6 %

BY stock opened at $31.10 on Friday. The company has a 50 day moving average of $29.22 and a two-hundred day moving average of $26.76. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 11.31 and a beta of 1.15. Byline Bancorp, Inc. has a 12-month low of $19.70 and a 12-month high of $32.89.

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

Byline Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.36 dividend on an annualized basis and a yield of 1.16%. Byline Bancorp’s payout ratio is 13.09%.

Analysts Set New Price Targets

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

About Byline Bancorp

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.