Potential Byline Bancorp, Inc. (NYSE:BY) shareholders may wish to note that the Independent Director, Phillip Cabrera, recently bought US$111k worth of stock, paying US$13.70 for each share. That certainly has us anticipating the best, especially since they thusly increased their own holding by 172%, potentially signalling some real optimism.
Byline Bancorp Insider Transactions Over The Last Year
Notably, that recent purchase by Phillip Cabrera is the biggest insider purchase of Byline Bancorp shares that we've seen in the last year. That means that an insider was happy to buy shares at above the current price of US$12.96. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. To us, it's very important to consider the price insiders pay for shares is very important. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
Happily, we note that in the last year insiders paid US$159k for 11.60k shares. But insiders sold 6.58k shares worth US$107k. In the last twelve months there was more buying than selling by Byline Bancorp insiders. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Does Byline Bancorp Boast High Insider Ownership?
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. We usually like to see fairly high levels of insider ownership. Byline Bancorp insiders own about US$195m worth of shares (which is 39% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.
So What Does This Data Suggest About Byline Bancorp Insiders?
It is good to see recent purchasing. And the longer term insider transactions also give us confidence. Once you factor in the high insider ownership, it certainly seems like insiders are positive about Byline Bancorp. That's what I like to see! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Byline Bancorp. When we did our research, we found 2 warning signs for Byline Bancorp (1 is a bit unpleasant!) that we believe deserve your full attention.
Of course Byline Bancorp may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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