Insider Selling: Byline Bancorp (NYSE:BY) CEO Sells $774,397.50 in Stock

Byline Bancorp, Inc. (NYSE:BY) CEO Roberto Herencia sold 19,750 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $39.21, for a total transaction of $774,397.50. Following the transaction, the chief executive officer owned 411,643 shares in the company, valued at approximately $16,140,522.03. This trade represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Byline Bancorp Stock Up 0.0%

NYSE BY traded up $0.01 during trading hours on Friday, hitting $39.27. 152,776 shares of the stock were exchanged, compared to its average volume of 243,355. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 11.86 and a beta of 0.71. Byline Bancorp, Inc. has a 12-month low of $25.57 and a 12-month high of $40.03. The stock has a 50-day moving average of $37.32 and a 200 day moving average of $34.08.

Byline Bancorp (NYSE:BY) last released its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.12. The company had revenue of $117.71 million for the quarter, compared to analysts’ expectations of $115.78 million. Byline Bancorp had a return on equity of 11.94% and a net margin of 23.36%. On average, equities research analysts expect that Byline Bancorp, Inc. will post 3.35 earnings per share for the current year.

Byline Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, August 4th. Byline Bancorp’s dividend payout ratio (DPR) is presently 16.92%.

Institutional Investors Weigh In On Byline Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of BY. Clearstead Advisors LLC increased its stake in Byline Bancorp by 83.1% in the 4th quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock valued at $46,000 after purchasing an additional 716 shares in the last quarter. Allworth Financial LP purchased a new stake in Byline Bancorp during the second quarter worth $61,000. Parkside Financial Bank & Trust boosted its position in Byline Bancorp by 15.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock worth $69,000 after purchasing an additional 313 shares in the last quarter. Royal Bank of Canada grew its holdings in Byline Bancorp by 58.3% in the first quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock valued at $73,000 after purchasing an additional 859 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Byline Bancorp by 1,572.5% in the third quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock valued at $79,000 after purchasing an additional 2,689 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler increased their price objective on Byline Bancorp from $40.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their target price on shares of Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Raymond James Financial began coverage on shares of Byline Bancorp in a research note on Wednesday, July 8th. They set a “market perform” rating on the stock. Stephens set a $40.00 price target on shares of Byline Bancorp in a report on Monday, July 27th. Finally, Hovde Group increased their price target on shares of Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.00.

About Byline Bancorp

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.