Charles Schwab Investment Management Inc. lowered its stake in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 14.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 244,836 shares of the company's stock after selling 40,411 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.55% of Byline Bancorp worth $6,554,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Comerica Bank grew its stake in Byline Bancorp by 17,066.0% in the 1st quarter. Comerica Bank now owns 8,583 shares of the company's stock valued at $186,000 after buying an additional 8,533 shares in the last quarter. CWM LLC raised its stake in 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 buying an additional 676 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Byline Bancorp by 16.1% in the second quarter. Bank of New York Mellon Corp now owns 191,122 shares of the company's stock worth $4,537,000 after buying an additional 26,539 shares in the last quarter. Bailard Inc. increased its stake in shares of Byline Bancorp by 72.3% during the second quarter. Bailard Inc. now owns 19,300 shares of the company's stock valued at $458,000 after purchasing an additional 8,100 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Byline Bancorp by 10.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,070 shares of the company's stock valued at $310,000 after purchasing an additional 1,277 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on BY. 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. Keefe, Bruyette & Woods lifted 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 note on Wednesday, December 4th.
Check Out Our Latest Research Report on BY
Byline Bancorp Stock Down 1.3 %
Shares of NYSE BY traded down $0.41 during midday trading on Thursday, reaching $31.35. 56,967 shares of the company's stock traded hands, compared to its average volume of 136,912. The stock's 50 day simple moving average is $28.99 and its 200-day simple moving average is $26.68. Byline Bancorp, Inc. has a one year low of $19.70 and a one year high of $32.89. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 11.55 and a beta of 1.15.
Byline Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were paid a $0.09 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.36 annualized dividend and a yield of 1.15%. Byline Bancorp's dividend payout ratio (DPR) is 13.09%.
Byline Bancorp declared that its board has initiated a share 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 an indication that the company's management believes its stock is undervalued.
Byline Bancorp Company Profile
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Free Report)
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.
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