Byline Bancorp (NYSE:BY) Price Target Raised to $33.00

Byline Bancorp (NYSE:BY) had its price objective hoisted by Keefe, Bruyette & Woods from $29.00 to $33.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

Separately, Piper Sandler reiterated an “overweight” rating and issued a $34.00 price objective on shares of Byline Bancorp in a research report on Tuesday, October 29th.

Byline Bancorp Stock Performance

BY opened at $31.61 on Wednesday. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 11.49 and a beta of 1.15. Byline Bancorp has a one year low of $19.70 and a one year high of $32.89. The business’s fifty day moving average is $28.67 and its two-hundred day moving average is $26.49.

Byline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Tuesday, November 5th. Byline Bancorp’s payout ratio is 13.09%.

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

Institutional Trading of Byline Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Byline Bancorp by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock valued at $33,700,000 after acquiring an additional 51,682 shares during the last quarter. PDT Partners LLC lifted its position in Byline Bancorp by 87.4% during the third quarter. PDT Partners LLC now owns 37,074 shares of the company’s stock worth $992,000 after buying an additional 17,288 shares during the period. 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 buying an additional 26,539 shares during the last quarter. Bailard Inc. grew its holdings in Byline Bancorp by 72.3% in the 2nd quarter. Bailard Inc. now owns 19,300 shares of the company’s stock valued at $458,000 after buying an additional 8,100 shares during the period. Finally, Fiducient Advisors LLC acquired a new position in shares of Byline Bancorp during the 3rd quarter valued at about $1,730,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.