Inceptionr LLC Takes Position in Byline Bancorp, Inc. (NYSE:BY)

Inceptionr LLC purchased a new stake in shares of Byline Bancorp, Inc. (NYSE:BY) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 12,284 shares of the company’s stock, valued at approximately $356,000.

A number of other hedge funds have also recently made changes to their positions in BY. Wellington Management Group LLP boosted its stake 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 in the last quarter. JPMorgan Chase & Co. raised its position in shares of Byline Bancorp by 71.6% during the third quarter. JPMorgan Chase & Co. now owns 557,242 shares of the company’s stock worth $14,917,000 after acquiring an additional 232,530 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Byline Bancorp by 173.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,780 shares of the company’s stock worth $3,153,000 after acquiring an additional 74,709 shares during the last quarter. FMR LLC raised its position in shares of Byline Bancorp by 7.3% during the third quarter. FMR LLC now owns 1,035,844 shares of the company’s stock worth $27,730,000 after acquiring an additional 70,863 shares during the last quarter. Finally, State Street Corp raised its position in shares of 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 during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BY. Hovde Group raised their price objective on Byline Bancorp from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Stephens raised their price objective on Byline Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their price objective on Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Insider Activity

In other news, insider Thomas Abraham sold 6,658 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $28.86, for a total transaction of $192,149.88. Following the completion of the sale, the insider now owns 62,282 shares in the company, valued at $1,797,458.52. The trade was a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 30.06% of the company’s stock.

Byline Bancorp Stock Performance

Shares of BY stock opened at $27.15 on Friday. The company has a market cap of $1.21 billion, a P/E ratio of 9.84 and a beta of 1.15. The stock has a 50 day simple moving average of $28.71 and a two-hundred day simple moving average of $28.47. Byline Bancorp, Inc. has a fifty-two week low of $19.70 and a fifty-two week high of $32.89.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. Byline Bancorp had a return on equity of 11.61% and a net margin of 19.33%. On average, research analysts predict that Byline Bancorp, Inc. will post 2.6 earnings per share for the current year.

Byline Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were issued a dividend of $0.10 per share. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, February 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.47%. Byline Bancorp’s payout ratio is currently 14.49%.

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

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.