Roberto Herencia Sells 19,750 Shares of Byline Bancorp (NYSE:BY) 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Byline Bancorp Stock Performance

NYSE:BY opened at $39.27 on Friday. The firm 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 52 week low of $25.57 and a 52 week high of $40.03. The firm has a 50-day moving average price of $37.44 and a two-hundred day moving average price of $34.12.

Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.79 by $0.12. The firm had revenue of $117.71 million for the quarter, compared to analysts’ expectations 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 forecast 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 issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, August 4th. Byline Bancorp’s dividend payout ratio is 16.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BY shares. Zacks Research downgraded Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Raymond James Financial began coverage on Byline Bancorp in a research note on Wednesday, July 8th. They set a “market perform” rating on the stock. Piper Sandler boosted their price target on shares of Byline Bancorp from $40.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Hovde Group boosted their price target on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Institutional Investors Weigh In On Byline Bancorp

A number of hedge funds have recently modified their holdings of BY. BlackRock Inc. purchased a new position in Byline Bancorp in the second quarter valued at approximately $132,220,000. Assenagon Asset Management S.A. purchased a new stake in Byline Bancorp in the first quarter worth $7,176,000. Denali Advisors LLC purchased a new stake in Byline Bancorp in the second quarter worth $6,987,000. Bank of New York Mellon Corp bought a new stake in shares of Byline Bancorp in the second quarter valued at $6,294,000. Finally, Qube Research & Technologies Ltd raised its stake in shares of Byline Bancorp by 56.2% in the third quarter. Qube Research & Technologies Ltd now owns 358,536 shares of the company’s stock valued at $9,942,000 after buying an additional 129,032 shares during the period. Institutional investors own 67.73% of the company’s stock.

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.