Insider Buying: Byline Bancorp Lead Independent Director Bought US$433k Of Shares
Potential Byline Bancorp, Inc. (NYSE:BY) shareholders may wish to note that the Lead Independent Director, Antonio Del Valle Perochena, recently bought US$433k worth of stock, paying US$21.63 for each share. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either.
Check out our latest analysis for Byline Bancorp
The Last 12 Months Of Insider Transactions At Byline Bancorp
Notably, that recent purchase by Lead Independent Director Antonio Del Valle Perochena was not the only time they bought Byline Bancorp shares this year. They previously made an even bigger purchase of US$1.1m worth of shares at a price of US$24.99 per share. That means that even when the share price was higher than US$22.34 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. We always take careful note of the price insiders pay when purchasing shares. As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price.
While Byline Bancorp insiders bought shares during the last year, they didn't sell. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
Byline Bancorp is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Does Byline Bancorp Boast High Insider Ownership?
Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It's great to see that Byline Bancorp insiders own 34% of the company, worth about US$334m. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.
So What Does This Data Suggest About Byline Bancorp Insiders?
The recent insider purchase is heartening. And an analysis of the transactions over the last year also gives us confidence. Once you factor in the high insider ownership, it certainly seems like insiders are positive about Byline Bancorp. Looks promising! While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. You'd be interested to know, that we found 2 warning signs for Byline Bancorp and we suggest you have a look.
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.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 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.
