4,736 Shares in Byline Bancorp, Inc. (NYSE:BY) Acquired by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in shares of Byline Bancorp, Inc. (NYSE:BY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,736 shares of the company’s stock, valued at approximately $127,000.

Several other hedge funds have also added to or reduced their stakes in the business. New York State Teachers Retirement System boosted its position in Byline Bancorp by 25.3% during the 3rd quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock worth $76,000 after buying an additional 574 shares during the period. Chicago Partners Investment Group LLC boosted its position in Byline Bancorp by 8.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,934 shares of the company’s stock worth $212,000 after buying an additional 619 shares during the period. CWM LLC boosted its position in Byline Bancorp by 104.5% during the 2nd quarter. CWM LLC now owns 1,323 shares of the company’s stock worth $31,000 after buying an additional 676 shares during the period. Point72 Asset Management L.P. acquired a new stake in Byline Bancorp during the 2nd quarter worth approximately $26,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Byline Bancorp by 10.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,070 shares of the company’s stock worth $310,000 after buying an additional 1,277 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Byline Bancorp Stock Performance

Shares of NYSE BY opened at $31.19 on Friday. Byline Bancorp, Inc. has a 52-week low of $19.70 and a 52-week high of $32.89. The company’s 50 day moving average price is $28.56 and its 200-day moving average price is $26.44. The company has a market capitalization of $1.38 billion, a P/E ratio of 11.34 and a beta of 1.15.

Byline Bancorp declared that its board has initiated 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 buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Byline Bancorp Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BY. Keefe, Bruyette & Woods boosted their price target on shares of Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday. Piper Sandler restated an “overweight” rating and issued 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.