Insider Selling: Byline Bancorp (NYSE:BY) Major Shareholder Sells $11,730,000.00 in Stock

Byline Bancorp, Inc. (NYSE:BY) major shareholder Investors L.P. Mbg sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the sale, the insider directly owned 11,535,145 shares of the company’s stock, valued at approximately $451,024,169.50. The trade was a 2.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Byline Bancorp Trading Down 0.2%

NYSE:BY opened at $39.16 on Friday. The stock has a market capitalization of $1.77 billion, a P/E ratio of 11.83 and a beta of 0.71. Byline Bancorp, Inc. has a 1 year low of $25.57 and a 1 year high of $40.03. The firm has a 50 day moving average of $37.32 and a 200-day moving average of $34.08.

Byline Bancorp (NYSE:BY) last released its quarterly earnings results 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 return on equity of 11.94% and a net margin of 23.36%.The business had revenue of $117.71 million for the quarter, compared to analyst estimates of $115.78 million. As a group, analysts forecast that Byline Bancorp, Inc. will post 3.35 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 4th. This is a boost 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 currently 16.92%.

Analyst Upgrades and Downgrades

BY has been the subject of a number of research analyst reports. Hovde Group lifted their price target on Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Stephens set a $40.00 price objective on shares of Byline Bancorp in a report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a research report on Friday, August 7th. Raymond James Financial began coverage on shares of Byline Bancorp in a research note on Wednesday, July 8th. They issued a “market perform” rating for the company. Finally, Keefe, Bruyette & Woods upped their target price on shares of Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Byline Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in shares of Byline Bancorp by 34.4% in the 1st quarter. AQR Capital Management LLC now owns 137,998 shares of the company’s stock valued at $3,610,000 after buying an additional 35,324 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Byline Bancorp by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company’s stock valued at $484,000 after acquiring an additional 770 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Byline Bancorp by 7.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company’s stock valued at $1,995,000 after acquiring an additional 5,213 shares during the last quarter. Jane Street Group LLC boosted its holdings in Byline Bancorp by 71.0% in the first quarter. Jane Street Group LLC now owns 152,478 shares of the company’s stock valued at $3,989,000 after acquiring an additional 63,317 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Byline Bancorp by 2.5% in the second quarter. Legal & General Group Plc now owns 29,577 shares of the company’s stock worth $791,000 after purchasing an additional 712 shares during the period. 67.73% of the stock is currently owned by institutional investors.

About Byline Bancorp

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.