JPMorgan Chase & Co. Purchases 232,530 Shares of Byline Bancorp, Inc. (NYSE:BY)

JPMorgan Chase & Co. grew its holdings in Byline Bancorp, Inc. (NYSE:BY - Free Report) by 71.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 557,242 shares of the company's stock after purchasing an additional 232,530 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.26% of Byline Bancorp worth $14,917,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. PDT Partners LLC lifted its stake in Byline Bancorp by 87.4% in the third quarter. PDT Partners LLC now owns 37,074 shares of the company's stock valued at $992,000 after buying an additional 17,288 shares during the period. State Street Corp raised its position in shares of Byline Bancorp by 6.5% in the 3rd quarter. State Street Corp now owns 845,405 shares of the company's stock valued at $22,631,000 after acquiring an additional 51,603 shares during the period. Barclays PLC boosted its stake in Byline Bancorp by 48.3% during the 3rd quarter. Barclays PLC now owns 58,874 shares of the company's stock worth $1,577,000 after acquiring an additional 19,187 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Byline Bancorp by 21.4% during the third quarter. Principal Financial Group Inc. now owns 20,164 shares of the company's stock valued at $540,000 after purchasing an additional 3,550 shares during the period. Finally, FMR LLC increased its stake in Byline Bancorp by 7.3% in 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 in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. 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 target price on Byline Bancorp from $29.00 to $33.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th.

Byline Bancorp Price Performance

BY traded down $0.90 during trading on Friday, reaching $26.96. The company had a trading volume of 121,352 shares, compared to its average volume of 123,592. The company has a market cap of $1.20 billion, a P/E ratio of 9.80 and a beta of 1.15. Byline Bancorp, Inc. has a 12 month low of $19.70 and a 12 month high of $32.89. The business's fifty day moving average price is $30.19 and its 200 day moving average price is $27.66.

Byline Bancorp announced that its board has initiated a share buyback plan on Thursday, December 5th that allows the company to repurchase 1,250,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Byline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were issued 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 1.34%. Byline Bancorp's payout ratio is 13.09%.

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.