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CHICAGO—Kent Steven P., a director of Byline Bancorp, Inc. (NYSE:BY), recently expanded his stake in the company through a significant stock acquisition. According to a recent filing, Kent purchased 4,125 shares of the company’s common stock on June 11, 2025, at a price of $24.75 per share, slightly below the current trading price of $25.37. This transaction amounted to a total investment of $102,093 in the $1.16 billion market cap company. InvestingPro analysis shows the stock is currently fairly valued, with a "GOOD" Financial Health score.
Following this acquisition, Kent’s total holdings in Byline Bancorp increased to 71,750 shares. The shares were acquired through the Steven P. Kent Trust, underlining his continued confidence in the company’s prospects.
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 projections, reporting $103.08 million compared to the anticipated $100.82 million. Byline Bancorp completed a secondary offering of 4.28 million shares by the Estate of Daniel L. Goodwin and its affiliate, with J.P. Morgan serving as the sole underwriter. The company did not receive any proceeds from this sale but participated in its share repurchase program, acquiring 418,235 shares.
Additionally, Byline Bancorp extended its revolving credit facility with CIBC (TSX:CM) Bank USA to 2026, maintaining a $15 million credit line. The company also completed the acquisition of First Security, which is expected to expand its market presence. Byline Bancorp held its annual meeting, electing ten directors and ratifying Moss Adams LLP as its independent auditor for the fiscal year 2025. These developments reflect Byline Bancorp’s strategic efforts to enhance its financial stability and market position.
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