Jennison Associates LLC Acquires 67,035 Shares of Byline Bancorp, Inc. (BY)

Jennison Associates LLC increased its holdings in shares of Byline Bancorp, Inc. (NYSE:BY) by 11.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 633,215 shares of the company’s stock after purchasing an additional 67,035 shares during the period. Jennison Associates LLC owned 2.16% of Byline Bancorp worth $13,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp acquired a new stake in Byline Bancorp in the second quarter valued at approximately $3,546,000. LMR Partners LLP acquired a new stake in Byline Bancorp in the second quarter valued at approximately $1,023,000. Tudor Investment Corp ET AL acquired a new stake in Byline Bancorp in the second quarter valued at approximately $1,003,000. Kennedy Capital Management Inc. acquired a new stake in Byline Bancorp in the second quarter valued at approximately $3,022,000. Finally, Castine Capital Management LLC acquired a new stake in Byline Bancorp in the second quarter valued at approximately $4,466,000. Hedge funds and other institutional investors own 21.39% of the company’s stock.

Several brokerages have weighed in on BY. Piper Jaffray Companies began coverage on shares of Byline Bancorp in a research note on Tuesday, July 25th. They issued an “overweight” rating and a $25.00 target price for the company. Keefe, Bruyette & Woods restated a “hold” rating and issued a $22.00 target price on shares of Byline Bancorp in a research note on Tuesday, October 3rd. FIG Partners began coverage on shares of Byline Bancorp in a research note on Tuesday, October 3rd. They issued a “market perform” rating and a $22.50 target price for the company. Zacks Investment Research upgraded shares of Byline Bancorp from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, September 26th. Finally, Stephens began coverage on shares of Byline Bancorp in a research note on Wednesday, July 26th. They issued an “equal weight” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Byline Bancorp currently has a consensus rating of “Hold” and a consensus target price of $23.50.

Shares of Byline Bancorp, Inc. (NYSE BY) opened at $19.51 on Friday. Byline Bancorp, Inc. has a one year low of $19.11 and a one year high of $21.82. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.50.

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Byline Bancorp Company Profile

Byline Bancorp, Inc is a bank holding company. The Company operates through its subsidiary, Byline Bank (the Bank). Byline Bank is a full service commercial bank. The Bank operates through 56 branches in the Chicago metropolitan area. The Bank offers a broad range of banking products and services to small and medium sized businesses, commercial real estate and financial sponsors, and to consumers.

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Institutional Ownership by Quarter for Byline Bancorp (NYSE:BY)

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