Jane Street Group LLC Boosts Stock Holdings in Byline Bancorp, Inc. (NYSE:BY)

Jane Street Group LLC increased its position in Byline Bancorp, Inc. (NYSE:BY) by 21.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,209 shares of the company’s stock after acquiring an additional 6,294 shares during the period. Jane Street Group LLC’s holdings in Byline Bancorp were worth $969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in Byline Bancorp by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,855,547 shares of the company’s stock valued at $44,049,000 after acquiring an additional 106,940 shares during the period. 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 purchasing an additional 70,863 shares during the last quarter. State Street Corp lifted its position in Byline Bancorp by 6.5% during the third quarter. State Street Corp now owns 845,405 shares of the company’s stock valued at $22,631,000 after purchasing an additional 51,603 shares during the period. American Century Companies Inc. boosted its holdings in Byline Bancorp by 20.4% in the second quarter. American Century Companies Inc. now owns 518,727 shares of the company’s stock worth $12,315,000 after purchasing an additional 87,796 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Byline Bancorp by 209.0% in the 3rd quarter. Wellington Management Group LLP now owns 410,359 shares of the company’s stock worth $10,985,000 after purchasing an additional 277,559 shares during the period. 67.73% of the stock is owned by institutional investors.

Byline Bancorp Trading Up 0.1 %

BY opened at $29.00 on Wednesday. The firm’s 50 day simple moving average is $30.04 and its two-hundred day simple moving average is $27.40. The company has a market capitalization of $1.29 billion, a PE ratio of 10.55 and a beta of 1.15. Byline Bancorp, Inc. has a 1-year low of $19.70 and a 1-year high of $32.89.

Byline Bancorp declared that its board has authorized a share buyback plan on Thursday, December 5th that authorizes the company to buyback 1,250,000 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Byline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors 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 dividend on an annualized basis and a yield of 1.24%. Byline Bancorp’s dividend payout ratio is currently 13.09%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $34.00 price target on shares of Byline Bancorp in a report on Tuesday, October 29th. 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.

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.