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

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) 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 value of $192,149.88. Following the sale, the insider now directly owns 62,282 shares of the company's stock, valued at approximately $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 at the SEC website.

Byline Bancorp Stock Up 1.3 %

Shares of NYSE BY traded up $0.38 during midday trading on Friday, hitting $28.54. The company had a trading volume of 160,457 shares, compared to its average volume of 122,601. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.34 and a beta of 1.15. Byline Bancorp, Inc. has a twelve month low of $19.70 and a twelve month high of $32.89. The business has a 50-day simple moving average of $28.87 and a two-hundred day simple moving average of $28.42.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts forecast that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.40%. 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. Byline Bancorp's payout ratio is presently 14.49%.

Byline Bancorp declared that its Board of Directors has authorized a share repurchase plan on Thursday, December 5th that permits the company to repurchase 1,250,000 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning increased its holdings in Byline Bancorp by 35.2% during the 3rd quarter. Creative Planning now owns 24,275 shares of the company's stock valued at $650,000 after acquiring an additional 6,317 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Byline Bancorp by 48.7% in the third quarter. Assenagon Asset Management S.A. now owns 140,630 shares of the company's stock valued at $3,765,000 after purchasing an additional 46,052 shares during the last quarter. New York State Teachers Retirement System increased 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 purchasing an additional 574 shares in the last quarter. Fiducient Advisors LLC purchased a new position in shares of Byline Bancorp during the 3rd quarter worth approximately $1,730,000. Finally, US Bancorp DE raised its position in shares of Byline Bancorp by 995.8% during the 3rd quarter. US Bancorp DE now owns 4,646 shares of the company's stock worth $124,000 after purchasing an additional 4,222 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Stephens increased their price target on shares of Byline Bancorp from $33.00 to $34.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. Hovde Group boosted their target price on Byline Bancorp from $33.00 to $34.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised their price target on Byline Bancorp from $29.00 to $33.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th.

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.