Bullish indicating open at $55-$60, IPO prices at $37
Abraham Thomas, the President of Byline Bancorp, Inc. (NYSE:BY), recently executed a series of stock transactions, as reported in a Form 4 filing with the Securities and Exchange Commission. The transactions come at a time when the company, currently valued at $1.27 billion, shows a GOOD financial health score according to InvestingPro analysis. On February 25, 2025, Thomas sold 6,658 shares of Byline Bancorp common stock at an average price of $28.86 per share, amounting to a total transaction value of $192,137. The stock, trading at a P/E ratio of 10.1x, has demonstrated strong performance with a 37% return over the past year.
In addition to the sales, Thomas engaged in several other transactions. On February 22, 2025, he disposed of a total of 3,103 shares at a price of $28.91 per share, which were used to cover tax obligations related to the vesting of restricted stock units. The total value of these transactions was $89,707.
Furthermore, Thomas acquired 5,453 restricted shares of common stock, which will vest over three years, subject to his continued employment with the company. These shares were acquired at no cost, as indicated in the filing.
Following these transactions, Thomas holds a total of 62,282 shares of Byline Bancorp common stock directly.
In other recent news, Byline Bancorp reported better-than-expected financial results for the fourth quarter of 2024. The company achieved an earnings per share (EPS) of $0.69, surpassing the consensus forecast of $0.62. Revenue also exceeded expectations, reaching $104.67 million compared to the anticipated $100.37 million. This strong performance is attributed to Byline Bancorp’s diversified lending and commercial banking strategy. Analysts from firms such as Piper Sandler and Hovde Group have noted the company’s robust results and have inquired about its future plans, including the anticipated closing of the First Security transaction in the second quarter of 2025. Byline Bancorp’s management has expressed confidence in their strategic expansions and loan growth projections for the coming year. The company is also preparing for future regulatory changes as it aims to cross the $10 billion asset threshold by late 2026. These developments reflect Byline Bancorp’s continued focus on growth and maintaining a competitive edge in the banking sector.
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