Inspire Investing LLC Sells 1,628 Shares of Byline Bancorp, Inc. (NYSE:BY)

Inspire Investing LLC cut its stake in Byline Bancorp, Inc. (NYSE:BY) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,798 shares of the company’s stock after selling 1,628 shares during the period. Inspire Investing LLC’s holdings in Byline Bancorp were worth $400,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BY. Dimensional Fund Advisors LP boosted its position in shares of Byline Bancorp by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,855,547 shares of the company’s stock valued at $44,049,000 after purchasing an additional 106,940 shares in the last quarter. FMR LLC lifted its position in shares of Byline Bancorp by 7.3% during the 3rd quarter. FMR LLC now owns 1,035,844 shares of the company’s stock valued at $27,730,000 after acquiring an additional 70,863 shares during the period. State Street Corp boosted its stake in Byline Bancorp by 6.5% during the third quarter. State Street Corp now owns 845,405 shares of the company’s stock worth $22,631,000 after acquiring an additional 51,603 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Byline Bancorp by 71.6% in the third quarter. JPMorgan Chase & Co. now owns 557,242 shares of the company’s stock valued at $14,917,000 after purchasing an additional 232,530 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Byline Bancorp by 209.0% during the third quarter. Wellington Management Group LLP now owns 410,359 shares of the company’s stock valued at $10,985,000 after purchasing an additional 277,559 shares during the period. Institutional investors own 67.73% of the company’s stock.

Byline Bancorp Stock Up 0.5 %

Shares of Byline Bancorp stock opened at $29.30 on Tuesday. The company has a market cap of $1.30 billion, a PE ratio of 10.65 and a beta of 1.15. Byline Bancorp, Inc. has a 52 week low of $19.70 and a 52 week high of $32.89. The business has a 50 day moving average price of $29.72 and a 200-day moving average price of $28.05.

Byline Bancorp (NYSE:BY) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.08. Byline Bancorp had a net margin of 19.39% and a return on equity of 11.90%. As a group, research analysts anticipate that Byline Bancorp, Inc. will post 2.68 EPS for the current year.

Byline Bancorp announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 5th that permits the company to repurchase 1,250,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Byline Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th will be given a $0.10 dividend. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $0.40 annualized dividend and a yield of 1.37%. Byline Bancorp’s payout ratio is currently 13.09%.

Wall Street Analysts Forecast Growth

BY has been the topic of a number of research reports. Hovde Group upped their price target on Byline Bancorp from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday. Keefe, Bruyette & Woods lifted their price target on shares of Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler restated an “overweight” rating and set a $34.00 price target on shares of Byline Bancorp in a research note on Tuesday, October 29th.

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.