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

Byline Bancorp, Inc. (NYSE:BY) saw a large drop in short interest in August. As of August 15th, there was short interest totalling 545,800 shares, a drop of 6.2% from the July 31st total of 582,000 shares. Based on an average trading volume of 173,000 shares, the days-to-cover ratio is currently 3.2 days. Approximately 2.2% of the shares of the stock are short sold.

Insider Activity at Byline Bancorp

In other Byline Bancorp news, insider John Barkidjija sold 27,009 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $28.18, for a total value of $761,113.62. Following the completion of the transaction, the insider now directly owns 22,691 shares in the company, valued at $639,432.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Byline Bancorp news, insider John Barkidjija sold 27,009 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.18, for a total value of $761,113.62. Following the completion of the transaction, the insider now directly owns 22,691 shares in the company, valued at approximately $639,432.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Pamela C. Stewart purchased 3,850 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $25.99 per share, for a total transaction of $100,061.50. Following the acquisition, the director now owns 6,336 shares of the company’s stock, valued at approximately $164,672.64. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 4,210 shares of company stock valued at $108,470 and have sold 38,497 shares valued at $1,031,053. 30.06% of the stock is currently owned by company insiders.

Institutional Trading of Byline Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC raised its holdings in Byline Bancorp by 2.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 24,330 shares of the company’s stock worth $573,000 after buying an additional 570 shares during the last quarter. CWM LLC increased its position in shares of Byline Bancorp by 104.5% during the second quarter. CWM LLC now owns 1,323 shares of the company’s stock worth $31,000 after acquiring an additional 676 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Byline Bancorp during the second quarter worth about $26,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Byline Bancorp by 10.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,070 shares of the company’s stock worth $310,000 after acquiring an additional 1,277 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Byline Bancorp by 13.2% in the 2nd quarter. Principal Financial Group Inc. now owns 16,614 shares of the company’s stock valued at $394,000 after acquiring an additional 1,932 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Byline Bancorp Stock Performance

Shares of BY opened at $27.75 on Monday. The firm has a market cap of $1.22 billion, a PE ratio of 10.16 and a beta of 1.14. Byline Bancorp has a 52-week low of $18.39 and a 52-week high of $29.49. The business’s 50 day moving average price is $26.01 and its two-hundred day moving average price is $23.26.

Byline Bancorp (NYSE:BY) last released its earnings results on Thursday, July 25th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The company had revenue of $154.41 million for the quarter, compared to the consensus estimate of $99.25 million. Byline Bancorp had a net margin of 19.42% and a return on equity of 12.69%. During the same quarter in the previous year, the company earned $0.73 EPS. Research analysts predict that Byline Bancorp will post 2.67 EPS for the current fiscal year.

Byline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.30%. Byline Bancorp’s dividend payout ratio (DPR) is presently 13.19%.

Analyst Upgrades and Downgrades

BY has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $34.00 price objective (up from $27.00) on shares of Byline Bancorp in a research note on Wednesday, July 31st. Stephens upped their price objective on shares of Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Hovde Group started coverage on shares of Byline Bancorp in a research report on Monday, May 20th. They set an “outperform” rating and a $27.50 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Byline Bancorp from $25.00 to $29.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

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.