Fmr LLC Has $27.73 Million Stock Position in Byline Bancorp, Inc. (NYSE:BY)

Fmr LLC raised its stake in Byline Bancorp, Inc. (NYSE:BY) by 7.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,035,844 shares of the company’s stock after acquiring an additional 70,863 shares during the period. Fmr LLC’s holdings in Byline Bancorp were worth $27,730,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in Byline Bancorp by 6.1% in the 2nd 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 during the last quarter. American Century Companies Inc. boosted its position in Byline Bancorp by 20.4% during the 2nd quarter. American Century Companies Inc. now owns 518,727 shares of the company’s stock worth $12,315,000 after acquiring an additional 87,796 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Byline Bancorp by 16.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 191,122 shares of the company’s stock worth $4,537,000 after acquiring an additional 26,539 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Byline Bancorp by 5.4% in the third quarter. Empowered Funds LLC now owns 155,207 shares of the company’s stock valued at $4,155,000 after purchasing an additional 7,906 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Byline Bancorp by 48.7% in the third quarter. Assenagon Asset Management S.A. now owns 140,630 shares of the company’s stock worth $3,765,000 after purchasing an additional 46,052 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

BY has been the topic of several recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $34.00 price target on shares of Byline Bancorp in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price target on Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Byline Bancorp Stock Performance

Shares of NYSE:BY opened at $31.17 on Tuesday. Byline Bancorp, Inc. has a 52-week low of $19.70 and a 52-week high of $32.89. The company has a 50-day simple moving average of $28.76 and a 200 day simple moving average of $26.59. The company has a market capitalization of $1.38 billion, a P/E ratio of 11.33 and a beta of 1.15.

Byline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were issued a $0.09 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.36 annualized dividend and a dividend yield of 1.15%. Byline Bancorp’s dividend payout ratio is currently 13.09%.

Byline Bancorp declared that its Board of Directors has approved a share buyback plan on Thursday, December 5th that authorizes the company to repurchase 1,250,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board 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.