Keefe, Bruyette & Woods Issues Positive Forecast for Byline Bancorp (NYSE:BY) Stock Price

Byline Bancorp (NYSE:BY) had its price objective hoisted by Keefe, Bruyette & Woods from $29.00 to $33.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

Separately, Piper Sandler reiterated an “overweight” rating and set a $34.00 target price on shares of Byline Bancorp in a report on Tuesday, October 29th.

Byline Bancorp Trading Up 1.3 %

Shares of Byline Bancorp stock opened at $31.61 on Wednesday. The stock has a market capitalization of $1.40 billion, a P/E ratio of 11.49 and a beta of 1.15. The business’s fifty day moving average price is $28.67 and its 200 day moving average price is $26.49. Byline Bancorp has a twelve month low of $19.70 and a twelve month high of $32.89.

Byline Bancorp announced that its Board of Directors has authorized a stock buyback program 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 programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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 given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.14%. The ex-dividend date was Tuesday, November 5th. Byline Bancorp’s dividend payout ratio (DPR) is presently 13.09%.

Hedge Funds Weigh In On Byline Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new position in Byline Bancorp in the 2nd quarter worth $26,000. CWM LLC lifted its stake in shares of Byline Bancorp by 104.5% in the second quarter. CWM LLC now owns 1,323 shares of the company’s stock worth $31,000 after acquiring an additional 676 shares in the last quarter. Innealta Capital LLC purchased a new position in Byline Bancorp in the second quarter valued at about $48,000. Ashton Thomas Private Wealth LLC acquired a new stake in Byline Bancorp during the 2nd quarter valued at approximately $61,000. Finally, New York State Teachers Retirement System increased its holdings 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 purchasing an additional 574 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Byline Bancorp Company 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.