Wellington Management Group LLP Boosts Position in Byline Bancorp, Inc. (NYSE:BY)

Wellington Management Group LLP increased its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 209.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 410,359 shares of the company’s stock after acquiring an additional 277,559 shares during the quarter. Wellington Management Group LLP owned approximately 0.92% of Byline Bancorp worth $10,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Byline Bancorp by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,855,547 shares of the company’s stock worth $44,049,000 after acquiring an additional 106,940 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Byline Bancorp by 20.4% during the 2nd 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 period. Jacobs Levy Equity Management Inc. increased its position in shares of Byline Bancorp by 173.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,780 shares of the company’s stock worth $3,153,000 after purchasing an additional 74,709 shares during the last quarter. FMR LLC raised its holdings in 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 buying an additional 70,863 shares during the period. Finally, Fiducient Advisors LLC acquired a new position in Byline Bancorp in the third quarter valued at about $1,730,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BY shares. Piper Sandler reiterated an “overweight” rating and set a $34.00 price target on shares of Byline Bancorp in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price objective 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, December 4th.

Byline Bancorp Trading Down 0.5 %

BY opened at $31.12 on Monday. The stock’s 50-day moving average price is $29.22 and its 200 day moving average price is $26.82. Byline Bancorp, Inc. has a 12-month low of $19.70 and a 12-month high of $32.89. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 11.32 and a beta of 1.15.

Byline Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.36 annualized dividend and a dividend yield of 1.16%. Byline Bancorp’s dividend payout ratio is presently 13.09%.

Byline Bancorp announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 5th that allows the company to buyback 1,250,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.