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 stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $39.21, for a total transaction of $774,397.50. Following the sale, the chief executive officer directly owned 411,643 shares of the company’s stock, valued at $16,140,522.03. The trade was a 4.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Byline Bancorp Stock Down 0.0%

Shares of Byline Bancorp stock opened at $39.27 on Monday. The company’s fifty day simple moving average is $37.44 and its two-hundred day simple moving average is $34.14. Byline Bancorp, Inc. has a 12-month low of $25.57 and a 12-month high of $40.03. The firm has a market cap of $1.77 billion, a PE ratio of 11.86 and a beta of 0.71.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.79 by $0.12. The firm had revenue of $117.71 million during the quarter, compared to the consensus estimate of $115.78 million. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.84%. As a group, sell-side analysts expect that Byline Bancorp, Inc. will post 3.35 earnings per share for the current fiscal 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 issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 4th. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.12. Byline Bancorp’s dividend payout ratio (DPR) is presently 16.92%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Byline Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Byline Bancorp during the second quarter valued at approximately $132,220,000. Assenagon Asset Management S.A. bought a new stake in shares of Byline Bancorp in the 1st quarter worth approximately $7,176,000. Denali Advisors LLC bought a new stake in shares of Byline Bancorp in the 2nd quarter worth approximately $6,987,000. Bank of New York Mellon Corp purchased a new stake in shares of Byline Bancorp in the 2nd quarter worth approximately $6,294,000. Finally, Qube Research & Technologies Ltd grew its stake in shares of Byline Bancorp by 56.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 358,536 shares of the company’s stock worth $9,942,000 after buying an additional 129,032 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.