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

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

Byline Bancorp Price Performance

Shares of BY stock opened at $28.54 on Friday. The stock has a market cap of $1.27 billion, a P/E ratio of 10.34 and a beta of 1.15. The company has a fifty day moving average price of $28.88 and a two-hundred day moving average price of $28.38. Byline Bancorp, Inc. has a one year low of $19.70 and a one year high of $32.89.

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

Byline Bancorp Increases Dividend

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

Byline Bancorp announced that its board has initiated a share repurchase program on Thursday, December 5th that authorizes the company to buyback 1,250,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Byline Bancorp

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. lifted its stake in shares of Byline Bancorp by 0.9% during the 4th quarter. Invesco Ltd. now owns 50,451 shares of the company’s stock worth $1,463,000 after buying an additional 439 shares during the last quarter. New York State Teachers Retirement System lifted its stake in shares of Byline Bancorp by 25.3% during the 3rd quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock worth $76,000 after buying an additional 574 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in Byline Bancorp by 8.5% during the third quarter. Chicago Partners Investment Group LLC now owns 7,934 shares of the company’s stock worth $212,000 after acquiring an additional 619 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Byline Bancorp by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,721 shares of the company’s stock worth $514,000 after acquiring an additional 620 shares during the period. Finally, Sterling Capital Management LLC increased its position in Byline Bancorp by 5.9% during the fourth quarter. Sterling Capital Management LLC now owns 15,857 shares of the company’s stock worth $460,000 after acquiring an additional 886 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

BY has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Hovde Group increased their price target on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Finally, Stephens increased their price target 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.