Inspire Investing LLC Sells 33,743 Shares of Byline Bancorp, Inc. (NYSE:BY)

Inspire Investing LLC trimmed its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 68.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,426 shares of the company’s stock after selling 33,743 shares during the quarter. Inspire Investing LLC’s holdings in Byline Bancorp were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Byline Bancorp by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,855,547 shares of the company’s stock valued at $44,049,000 after buying an additional 106,940 shares during the last quarter. Vanguard Group Inc. raised its holdings in Byline Bancorp by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock worth $33,700,000 after purchasing an additional 51,682 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Byline Bancorp by 20.4% in the 2nd quarter. American Century Companies Inc. now owns 518,727 shares of the company’s stock valued at $12,315,000 after purchasing an additional 87,796 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Byline Bancorp by 16.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 191,122 shares of the company’s stock worth $4,537,000 after buying an additional 26,539 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Byline Bancorp by 5.4% during the first quarter. Sei Investments Co. now owns 171,282 shares of the company’s stock worth $3,720,000 after buying an additional 8,847 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BY. Piper Sandler reaffirmed an “overweight” rating and issued a $34.00 price objective (up from $27.00) on shares of Byline Bancorp in a research note on Wednesday, July 31st. Stephens increased their target price on Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Byline Bancorp from $25.00 to $29.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Byline Bancorp Stock Performance

Shares of BY stock opened at $26.92 on Thursday. The company has a market capitalization of $1.19 billion, a P/E ratio of 9.86 and a beta of 1.12. Byline Bancorp, Inc. has a 52 week low of $18.39 and a 52 week high of $29.49. The company’s 50 day moving average price is $26.38 and its two-hundred day moving average price is $24.48.

Byline Bancorp (NYSE:BY) last announced its earnings results on Thursday, July 25th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Byline Bancorp had a net margin of 19.42% and a return on equity of 12.69%. The firm had revenue of $154.41 million during the quarter, compared to analyst estimates of $99.25 million. During the same period in the prior year, the business earned $0.73 EPS. Analysts forecast that Byline Bancorp, Inc. will post 2.67 earnings per share for the current year.

Byline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, August 6th. Byline Bancorp’s dividend payout ratio is presently 13.19%.

Insider Buying and Selling at Byline Bancorp

In other news, insider Brogan Ptacin sold 11,812 shares of Byline Bancorp stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $27.65, for a total value of $326,601.80. Following the sale, the insider now directly owns 25,588 shares in the company, valued at $707,508.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Pamela C. Stewart bought 3,850 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $25.99 per share, for a total transaction of $100,061.50. Following the completion of the acquisition, the director now owns 6,336 shares of the company’s stock, valued at approximately $164,672.64. The trade was a 100.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brogan Ptacin sold 11,812 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $27.65, for a total value of $326,601.80. Following the completion of the transaction, the insider now owns 25,588 shares of the company’s stock, valued at approximately $707,508.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,309 shares of company stock worth $1,131,254. Corporate insiders own 30.06% of the company’s stock.

About Byline Bancorp

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.