Bullish indicating open at $55-$60, IPO prices at $37
Megan Biggam, Executive Vice President and Head of Community Banking at Byline Bancorp, Inc. (NYSE:BY), recently executed a series of transactions involving the company’s common stock. On June 10, Biggam sold 3,611 shares at a price of $26.75 per share, totaling $96,594. This transaction reduced her direct ownership to 17,630 shares. The sale occurred at a premium to the current market price of $25.32, with the stock trading at an attractive P/E ratio of 9.3x. According to InvestingPro analysis, Byline Bancorp’s overall financial health score is rated as "GOOD."
Additionally, Biggam exercised stock options to acquire 3,611 shares at an exercise price of $11.18 each, totaling $40,370. These transactions reflect her ongoing management of stock holdings in Byline Bancorp, a company currently valued at $1.17 billion. InvestingPro data reveals that the bank has demonstrated strong returns over the last five years, with additional insights available through the comprehensive Pro Research Report covering 1,400+ top 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 the expected $100.82 million. In a strategic move, Byline Bancorp completed the acquisition of First Security, further expanding its market presence. Additionally, the company extended its revolving credit facility with CIBC (TSX:CM) Bank USA through May 2026, maintaining the credit line at $15 million. Byline Bancorp held its annual stockholders’ meeting, where all ten director nominees were elected, and proposals regarding executive compensation and the appointment of Moss Adams LLP as the independent accounting firm were approved. The company announced a secondary offering of 4.28 million shares by selling stockholders, with J.P. Morgan as the sole underwriter. Byline Bancorp plans to repurchase $5 million to $10 million of these shares as part of its existing share repurchase program. These developments reflect Byline Bancorp’s ongoing financial strategies and market activities.
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