Byline Bancorp, Inc. (NYSE:BY) Sees Significant Growth in Short Interest

Byline Bancorp, Inc. (NYSE:BY) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 438,600 shares, an increase of 5.3% from the May 31st total of 416,600 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average trading volume of 106,400 shares, the days-to-cover ratio is presently 4.1 days.

Byline Bancorp Stock Down 1.7 %

NYSE BY traded down $0.42 during trading on Wednesday, hitting $23.72. 68,078 shares of the stock traded hands, compared to its average volume of 114,927. The company has a market capitalization of $1.05 billion, a P/E ratio of 8.83 and a beta of 1.14. The firm has a 50-day simple moving average of $22.92 and a 200-day simple moving average of $22.09. Byline Bancorp has a 12-month low of $17.67 and a 12-month high of $24.52.

Byline Bancorp (NYSE:BY) last announced its earnings results on Friday, April 26th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $153.79 million during the quarter, compared to analysts’ expectations of $97.35 million. Byline Bancorp had a return on equity of 13.18% and a net margin of 19.91%. During the same quarter in the previous year, the business earned $0.65 EPS. As a group, research analysts predict that Byline Bancorp will post 2.62 EPS for the current fiscal year.

Byline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 7th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Monday, May 6th. Byline Bancorp’s dividend payout ratio (DPR) is 13.19%.

Insider Activity at Byline Bancorp

In other news, insider John Barkidjija sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $22.64, for a total value of $226,400.00. Following the transaction, the insider now owns 30,691 shares of the company’s stock, valued at $694,844.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 30.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Byline Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Byline Bancorp by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,626,661 shares of the company’s stock valued at $38,325,000 after acquiring an additional 68,552 shares during the period. Vanguard Group Inc. raised its position in Byline Bancorp by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock valued at $33,700,000 after purchasing an additional 51,682 shares in the last quarter. FMR LLC raised its position in Byline Bancorp by 18.4% during the 3rd quarter. FMR LLC now owns 767,331 shares of the company’s stock valued at $15,124,000 after purchasing an additional 119,383 shares in the last quarter. Mendon Capital Advisors Corp bought a new stake in Byline Bancorp during the 4th quarter valued at $8,246,000. Finally, Federated Hermes Inc. raised its position in Byline Bancorp by 2.1% during the 4th quarter. Federated Hermes Inc. now owns 329,217 shares of the company’s stock valued at $7,756,000 after purchasing an additional 6,720 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

BY has been the topic of several recent analyst reports. Stephens decreased their target price on Byline Bancorp from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. Hovde Group began coverage on Byline Bancorp in a report on Monday, May 20th. They set an “outperform” rating and a $27.50 price target for the company.

About Byline Bancorp

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.