Byline Bancorp (NYSE:BY) CEO Roberto Herencia Sells 19,750 Shares of Stock

Byline Bancorp, Inc. (NYSE:BY) CEO Roberto Herencia sold 19,750 shares of Byline Bancorp stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $39.21, for a total transaction of $774,397.50. Following the completion of the transaction, the chief executive officer owned 411,643 shares of the company’s stock, valued at $16,140,522.03. This represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Byline Bancorp Stock Performance

Shares of NYSE BY opened at $39.27 on Friday. The stock’s 50-day simple moving average is $37.44 and its 200-day simple moving average is $34.12. The firm has a market capitalization of $1.77 billion, a PE ratio of 11.86 and a beta of 0.71. Byline Bancorp, Inc. has a fifty-two week low of $25.57 and a fifty-two week high of $40.03.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%.The firm had revenue of $117.71 million during the quarter, compared to the consensus estimate of $115.78 million. On average, sell-side analysts forecast that Byline Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend 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 payout ratio is presently 16.92%.

Hedge Funds Weigh In On Byline Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Clearstead Advisors LLC grew its position in Byline Bancorp by 83.1% in the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock valued at $46,000 after acquiring an additional 716 shares in the last quarter. Allworth Financial LP acquired a new position in Byline Bancorp during the 2nd quarter worth $61,000. Royal Bank of Canada grew its holdings in Byline Bancorp by 58.3% during the 1st quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock worth $73,000 after acquiring an additional 859 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Byline Bancorp by 15.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after purchasing an additional 313 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Byline Bancorp by 1,572.5% in the 3rd 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 in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Raymond James Financial assumed coverage on Byline Bancorp in a report on Wednesday, July 8th. They issued a “market perform” rating for the company. Hovde Group upped their price objective on Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a 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, Keefe, Bruyette & Woods lifted 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 equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.00.

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.