Byline Bancorp, Inc. (NYSE:BY) Insider Thomas Abraham Sells 6,658 Shares of Stock

Byline Bancorp, Inc. (NYSE:BY) insider Thomas Abraham sold 6,658 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $28.86, for a total value of $192,149.88. Following the completion of the sale, the insider now owns 62,282 shares of the company’s stock, valued at approximately $1,797,458.52. This represents a 9.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Byline Bancorp Price Performance

Shares of BY stock opened at $28.28 on Thursday. The business’s fifty day moving average price is $28.90 and its 200 day moving average price is $28.38. Byline Bancorp, Inc. has a 1-year low of $19.70 and a 1-year high of $32.89. The firm has a market capitalization of $1.26 billion, a PE ratio of 10.25 and a beta of 1.15.

Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.08. Byline Bancorp had a return on equity of 11.61% and a net margin of 19.33%. Equities research analysts expect that Byline Bancorp, Inc. will post 2.6 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, February 4th. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.41%. Byline Bancorp’s dividend payout ratio is 14.49%.

Byline Bancorp declared that its board has authorized a stock buyback program on Thursday, December 5th that allows the company to buyback 1,250,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Byline Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Byline Bancorp by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,129,208 shares of the company’s stock valued at $61,747,000 after buying an additional 94,849 shares in the last quarter. FMR LLC grew its stake in shares of Byline Bancorp by 7.3% in the third quarter. FMR LLC now owns 1,035,844 shares of the company’s stock valued at $27,730,000 after buying an additional 70,863 shares in the last quarter. State Street Corp grew its stake in shares of Byline Bancorp by 6.5% in the third quarter. State Street Corp now owns 845,405 shares of the company’s stock valued at $22,631,000 after buying an additional 51,603 shares in the last quarter. Boston Partners grew its stake in shares of Byline Bancorp by 818.2% in the fourth quarter. Boston Partners now owns 722,295 shares of the company’s stock valued at $20,839,000 after buying an additional 643,628 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Byline Bancorp by 7.7% in the fourth quarter. American Century Companies Inc. now owns 634,446 shares of the company’s stock valued at $18,399,000 after buying an additional 45,228 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on BY. Hovde Group boosted their target price on Byline Bancorp from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods boosted their target price on Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Stephens upped their price objective on Byline Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th.

Byline Bancorp Company Profile

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.