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

Byline Bancorp (NYSE:BY) had its price objective upped by Keefe, Bruyette & Woods from $29.00 to $33.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 5.80% from the stock’s previous close.

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

Byline Bancorp Stock Down 0.2 %

BY stock opened at $31.19 on Wednesday. The firm has a market capitalization of $1.38 billion, a PE ratio of 11.34 and a beta of 1.15. Byline Bancorp has a twelve month low of $19.70 and a twelve month high of $32.89. The stock’s 50 day moving average is $28.56 and its 200-day moving average is $26.44.

Byline Bancorp declared that its board has authorized a stock buyback program on Thursday, December 5th that allows the company to repurchase 1,250,000 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BY. Barclays PLC grew its position in shares of Byline Bancorp by 48.3% during the 3rd quarter. Barclays PLC now owns 58,874 shares of the company’s stock valued at $1,577,000 after acquiring an additional 19,187 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Byline Bancorp by 49.0% in the third quarter. Public Employees Retirement System of Ohio now owns 12,770 shares of the company’s stock valued at $342,000 after purchasing an additional 4,200 shares during the last quarter. Jane Street Group LLC grew its holdings in Byline Bancorp by 21.0% during the third quarter. Jane Street Group LLC now owns 36,209 shares of the company’s stock valued at $969,000 after purchasing an additional 6,294 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in Byline Bancorp in the third quarter worth $1,338,000. Finally, Wellington Management Group LLP raised its stake in shares of Byline Bancorp by 209.0% in the third quarter. Wellington Management Group LLP now owns 410,359 shares of the company’s stock valued at $10,985,000 after buying an additional 277,559 shares during the period. 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.