Insider Selling: Byline Bancorp, Inc. (NYSE:BY) Insider Sells $192,149.88 in Stock

Byline Bancorp, Inc. (NYSE:BY) insider Thomas Abraham sold 6,658 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $28.86, for a total transaction of $192,149.88. Following the completion of the transaction, the insider now owns 62,282 shares in the company, valued at $1,797,458.52. This represents a 9.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Byline Bancorp Stock Performance

Shares of NYSE:BY opened at $28.54 on Friday. Byline Bancorp, Inc. has a 52 week low of $19.70 and a 52 week high of $32.89. The company has a market capitalization of $1.27 billion, a PE ratio of 10.34 and a beta of 1.15. The company has a 50 day moving average price of $28.88 and a two-hundred day moving average price of $28.38.

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

Byline Bancorp announced that its Board of Directors has initiated a stock buyback program on Thursday, December 5th that authorizes the company to buyback 1,250,000 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Byline Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were given a dividend of $0.10 per share. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.40%. Byline Bancorp’s dividend payout ratio is currently 14.49%.

Institutional Investors Weigh In On Byline Bancorp

Several large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Byline Bancorp by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,129,208 shares of the company’s stock worth $61,747,000 after acquiring an additional 94,849 shares in the last quarter. FMR LLC increased its position in shares of Byline Bancorp by 7.3% during the third quarter. FMR LLC now owns 1,035,844 shares of the company’s stock worth $27,730,000 after acquiring an additional 70,863 shares in the last quarter. State Street Corp increased its position in shares of Byline Bancorp by 6.5% during the third quarter. State Street Corp now owns 845,405 shares of the company’s stock worth $22,631,000 after acquiring an additional 51,603 shares in the last quarter. Boston Partners boosted its holdings in Byline Bancorp by 818.2% during the fourth quarter. Boston Partners now owns 722,295 shares of the company’s stock worth $20,839,000 after purchasing an additional 643,628 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Byline Bancorp by 7.7% during the fourth quarter. American Century Companies Inc. now owns 634,446 shares of the company’s stock worth $18,399,000 after purchasing an additional 45,228 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Hovde Group increased their price objective on shares of 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 upped their target price on shares of Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Stephens upped their target price on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th.

About Byline Bancorp

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.