Barclays PLC Has $1.58 Million Stock Position in Byline Bancorp, Inc. (NYSE:BY)

Barclays PLC grew its stake in Byline Bancorp, Inc. (NYSE:BY) by 48.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,874 shares of the company’s stock after acquiring an additional 19,187 shares during the period. Barclays PLC’s holdings in Byline Bancorp were worth $1,577,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in Byline Bancorp during the second quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Byline Bancorp during the second quarter worth approximately $61,000. New York State Teachers Retirement System grew its position in shares of Byline Bancorp by 25.3% in the third quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock valued at $76,000 after purchasing an additional 574 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Byline Bancorp in the second quarter valued at approximately $88,000. Finally, US Bancorp DE increased its stake in shares of Byline Bancorp by 995.8% during the third quarter. US Bancorp DE now owns 4,646 shares of the company’s stock worth $124,000 after purchasing an additional 4,222 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Byline Bancorp Stock Performance

Shares of BY stock opened at $28.96 on Friday. Byline Bancorp, Inc. has a fifty-two week low of $19.70 and a fifty-two week high of $32.89. The stock’s fifty day moving average price is $29.88 and its two-hundred day moving average price is $27.19. The company has a market cap of $1.29 billion, a PE ratio of 10.53 and a beta of 1.15.

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

Byline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Tuesday, November 5th. Byline Bancorp’s dividend payout ratio (DPR) is presently 13.09%.

Wall Street Analysts Forecast Growth

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

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.