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

Key Points

• CEO Roberto Herencia sold 19,750 Byline Bancorp shares at an average price of $39.21, generating $774,397.50 and reducing his holdings by 4.58% to 411,643 shares.
• Byline Bancorp recently beat quarterly earnings expectations, reporting $0.91 EPS versus the $0.79 consensus and $117.71 million in revenue. The company also raised its quarterly dividend from $0.12 to $0.14 per share.
• Shares traded near their 12-month high at $39.27, while analysts maintain a “Moderate Buy” consensus with an average price target of $43.00; institutional investors own 67.73% of the stock.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) CEO Roberto Herencia sold 19,750 shares of the company's 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Byline Bancorp Stock Performance

Shares of BY stock traded up $0.01 during mid-day trading on Friday, hitting $39.27. 152,776 shares of the stock were exchanged, compared to its average volume of 243,355. The stock's fifty day simple moving average is $37.32 and its two-hundred day simple moving average is $34.08. Byline Bancorp, Inc. has a 12-month low of $25.57 and a 12-month high of $40.03. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 11.86 and a beta of 0.71.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.12. The business had revenue of $117.71 million during the quarter, compared to the consensus estimate of $115.78 million. Byline Bancorp had a return on equity of 11.94% and a net margin of 23.36%. On average, research analysts expect that Byline Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be paid a $0.14 dividend. This is an increase from Byline Bancorp's previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, August 4th. Byline Bancorp's dividend payout ratio (DPR) is presently 16.92%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BY shares. Hovde Group raised their target price on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. Stephens set a $40.00 price target on shares of Byline Bancorp in a research note on Monday, July 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Byline Bancorp in a research note on Friday, August 7th. Raymond James Financial assumed coverage on shares of Byline Bancorp in a research report on Wednesday, July 8th. They set a "market perform" rating on the stock. Finally, Zacks Research lowered shares of Byline Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $43.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Clearstead Advisors LLC increased its holdings in shares of 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 purchasing an additional 716 shares during the period. Allworth Financial LP acquired a new stake in shares of Byline Bancorp during the second quarter worth $61,000. Parkside Financial Bank & Trust grew its position in 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 buying an additional 313 shares during the last quarter. Royal Bank of Canada grew its position in Byline Bancorp by 58.3% in the 1st quarter. Royal Bank of Canada now owns 2,332 shares of the company's stock valued at $73,000 after buying an additional 859 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in 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 buying an additional 2,689 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.

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