Bullish indicating open at $55-$60, IPO prices at $37
CHICAGO - Byline Bancorp, Inc. (NYSE: BY), currently trading at $25.67 with a market capitalization of $1.18 billion, announced Thursday the completion of a previously announced secondary public offering of 4,282,210 shares of common stock by the Estate of Daniel L. Goodwin and its affiliate, Equity Shares Investors, LLC.
The shares were sold at $24.75 each, according to a press release statement. Byline did not offer or sell any shares in the transaction and received no proceeds from the sale. According to InvestingPro analysis, the stock is currently fairly valued, trading at an attractive P/E ratio of 9.4x.
As part of its existing share repurchase program authorized on January 1, 2025, Byline purchased 418,235 shares from the underwriter at the same price paid by the underwriter to the selling stockholders. Additionally, several company directors collectively purchased $1.27 million worth of shares at the public offering price.
J.P. Morgan served as the sole underwriter for the offering, which was conducted under an automatically effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission.
Byline Bancorp is the parent company of Byline Bank, which provides commercial banking services to small and medium-sized businesses, financial sponsors, and consumers. The bank operates 45 branch locations throughout the Chicago and Milwaukee metropolitan areas and reported approximately $9.6 billion in assets as of March 31, 2025. The company maintains a solid 1.55% dividend yield and has demonstrated strong profitability with a return on equity of 11%. Discover more detailed insights and metrics with a InvestingPro subscription, which includes comprehensive analysis of over 1,400 US stocks.
In other recent news, Byline Bancorp reported its first-quarter 2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.64, slightly above the forecast of $0.63. The company also exceeded revenue forecasts, reporting $103.08 million against an expected $100.82 million. This performance was highlighted by a strong net interest margin of 4.07%. Additionally, Byline Bancorp has completed the acquisition of First Security, which is expected to expand its market presence. The company also extended its revolving credit facility with CIBC Bank USA through May 2026, maintaining a $15 million credit line. In other developments, the Estate of Daniel L. Goodwin and Equity Shares Investors, LLC are offering over 4.28 million shares of Byline’s common stock in a secondary offering, with J.P. Morgan acting as the sole underwriter. Byline Bancorp held its annual meeting, electing ten directors and ratifying Moss Adams LLP as its independent public accounting firm for 2025. These developments reflect Byline Bancorp’s ongoing strategic initiatives and financial management practices.
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