UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in Byline Bancorp, Inc. (NYSE:BY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of Byline Bancorp, Inc. (NYSE:BY) by 7.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 56,725 shares of the company’s stock after selling 4,292 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Byline Bancorp were worth $1,519,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in shares of Byline Bancorp by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,093 shares of the company’s stock valued at $350,000 after acquiring an additional 6,198 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Byline Bancorp in the 3rd quarter valued at about $127,000. FMR LLC increased its holdings in shares of Byline Bancorp by 7.3% in the 3rd 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 last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Byline Bancorp by 22.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 15,198 shares of the company’s stock valued at $407,000 after acquiring an additional 2,795 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Byline Bancorp by 6.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,256 shares of the company’s stock valued at $2,015,000 after acquiring an additional 4,476 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Byline Bancorp Stock Up 0.4 %

Shares of NYSE BY opened at $31.24 on Tuesday. The stock has a market cap of $1.39 billion, a PE ratio of 11.36 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. The business has a 50-day moving average price of $29.34 and a 200 day moving average price of $26.88.

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

Byline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were given a $0.09 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.15%. Byline Bancorp’s dividend payout ratio (DPR) is presently 13.09%.

Wall Street Analyst Weigh In

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

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.