Key Points
- CEO Roberto Herencia sold 19,750 Byline Bancorp shares at an average price of $39.21, generating approximately $774,398. He retains 411,643 shares, valued at about $16.14 million.
- Byline Bancorp reported quarterly EPS of $0.91, exceeding analyst estimates of $0.79, while revenue of $117.71 million also surpassed expectations.
- The company raised its quarterly dividend from $0.12 to $0.14 per share, equivalent to a $0.56 annualized dividend and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus with a $43 average price target.
Byline Bancorp, Inc. (NYSE:BY - Get Free Report) CEO Roberto Herencia sold 19,750 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $39.21, for a total value of $774,397.50. Following the transaction, the chief executive officer directly owned 411,643 shares in the company, valued at approximately $16,140,522.03. This represents a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Byline Bancorp Trading Up 0.0%
Shares of NYSE BY opened at $39.27 on Friday. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 11.86 and a beta of 0.71. Byline Bancorp, Inc. has a twelve month low of $25.57 and a twelve month high of $40.03. The business has a 50 day simple moving average of $37.44 and a 200-day simple moving average of $34.12.
Byline Bancorp (NYSE:BY - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.12. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.84%. The firm had revenue of $117.71 million during the quarter, compared to the consensus estimate of $115.78 million. As a group, equities analysts predict that Byline Bancorp, Inc. will post 3.35 earnings per share for the current year.
Byline Bancorp Increases Dividend
The company also recently declared 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. The ex-dividend date is Tuesday, August 4th. This is an increase from Byline Bancorp's previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. Byline Bancorp's dividend payout ratio (DPR) is 16.92%.
Institutional Investors Weigh In On Byline Bancorp
Hedge funds have recently made changes to their positions in the stock. Clearstead Advisors LLC grew its position in Byline Bancorp by 83.1% during the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company's stock worth $46,000 after buying an additional 716 shares in the last quarter. Allworth Financial LP acquired a new position in Byline Bancorp in the 2nd quarter valued at approximately $61,000. Royal Bank of Canada lifted its position in shares of Byline Bancorp by 58.3% in 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 during the period. Parkside Financial Bank & Trust grew its holdings in shares of Byline Bancorp by 15.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company's stock worth $69,000 after purchasing an additional 313 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Byline Bancorp by 1,572.5% during the third 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 during the period. Institutional investors own 67.73% of the company's stock.
Analyst Ratings Changes
BY has been the subject of several recent research reports. Stephens set a $40.00 price target on Byline Bancorp in a research note on Monday, July 27th. Zacks Research cut Byline Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Piper Sandler upped their price target on shares of Byline Bancorp from $40.00 to $46.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Raymond James Financial began coverage on Byline Bancorp in a report on Wednesday, July 8th. They issued a "market perform" rating on the stock. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Byline Bancorp in a research report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.
Get Our Latest Analysis on BY
About Byline Bancorp
(
Get Free Report)
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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