Wellington Management Group LLP Has $10.99 Million Position in Byline Bancorp, Inc. (NYSE:BY)

Wellington Management Group LLP grew its position in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 209.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 410,359 shares of the company's stock after buying 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 also recently modified their holdings of BY. Dimensional Fund Advisors LP raised its stake in shares of Byline Bancorp by 6.1% in 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. raised its position in Byline Bancorp by 20.4% in 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 last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in 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 buying an additional 74,709 shares in the last quarter. FMR LLC boosted its position 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 last quarter. Finally, Fiducient Advisors LLC acquired a new stake in shares of Byline Bancorp in the 3rd quarter valued at $1,730,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analyst Weigh In

BY has been the topic of several recent research reports. Piper Sandler reiterated an "overweight" rating and issued a $34.00 price target on shares of Byline Bancorp in a report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their target price on shares of Byline Bancorp from $29.00 to $33.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th.

Byline Bancorp Trading Up 0.4 %

Shares of NYSE:BY traded up $0.12 during midday trading on Monday, hitting $31.24. The company had a trading volume of 89,896 shares, compared to its average volume of 136,695. Byline Bancorp, Inc. has a 12 month low of $19.70 and a 12 month high of $32.89. The firm has a fifty day simple moving average of $29.34 and a 200 day simple moving average of $26.88. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 11.36 and a beta of 1.15.

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

Byline Bancorp Dividend Announcement

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

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.