Insider Selling: Byline Bancorp (NYSE:BY) Insider Sells $94,419.00 in Stock

Byline Bancorp, Inc. (NYSE:BY) insider Dana Rose sold 2,421 shares of Byline Bancorp stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $39.00, for a total value of $94,419.00. Following the sale, the insider directly owned 11,605 shares of the company’s stock, valued at approximately $452,595. This trade represents a 17.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Byline Bancorp Trading Up 0.0%

BY opened at $39.27 on Friday. The stock has a market capitalization of $1.77 billion, a P/E ratio of 11.86 and a beta of 0.71. The stock has a 50-day moving average price of $37.44 and a 200-day moving average price of $34.12. Byline Bancorp, Inc. has a 12-month low of $25.57 and a 12-month high of $40.03.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 11.84% and a net margin of 23.36%. On average, equities research analysts predict that Byline Bancorp, Inc. will post 3.35 EPS for the current year.

Byline Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend 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 of this dividend is Tuesday, August 4th. Byline Bancorp’s payout ratio is 16.92%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BY. Piper Sandler upped their price objective on shares of Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods lifted 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. Stephens set a $40.00 price target on shares of Byline Bancorp in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Byline Bancorp in a research note on Friday, August 7th. Finally, Raymond James Financial assumed coverage on Byline Bancorp in a report on Wednesday, July 8th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BY. Jupiter Topco LLC purchased a new stake in Byline Bancorp during the 2nd quarter valued at $390,000. Hsbc Holdings PLC purchased a new position in shares of Byline Bancorp in the second quarter valued at about $1,007,000. PDT Partners LLC bought a new position in shares of Byline Bancorp during the second quarter valued at about $1,029,000. Canada Pension Plan Investment Board bought a new position in shares of Byline Bancorp during the second quarter valued at about $979,000. Finally, Legal & General Group Plc purchased a new stake in shares of Byline Bancorp during the second quarter worth about $933,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Byline Bancorp Company Profile

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.