Short Interest in Byline Bancorp, Inc. (NYSE:BY) Grows By 7.6%

Byline Bancorp, Inc. (NYSE:BY) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 525,000 shares, a growth of 7.6% from the November 30th total of 487,700 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average trading volume of 148,800 shares, the short-interest ratio is presently 3.5 days.

Byline Bancorp Price Performance

BY stock opened at $29.00 on Thursday. The company has a 50 day moving average price of $30.08 and a 200 day moving average price of $27.41. Byline Bancorp has a fifty-two week low of $19.70 and a fifty-two week high of $32.89. The stock has a market capitalization of $1.29 billion, a PE ratio of 10.55 and a beta of 1.15.

Byline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Tuesday, November 5th. Byline Bancorp’s dividend payout ratio (DPR) is presently 13.09%.

Byline Bancorp announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 5th that allows the company to buyback 1,250,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $34.00 price objective on shares of Byline Bancorp in a report on Tuesday, October 29th.

Institutional Trading of Byline Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of Byline Bancorp by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,855,547 shares of the company’s stock valued at $44,049,000 after acquiring an additional 106,940 shares during the last quarter. FMR LLC raised its position in shares of Byline Bancorp by 7.3% during the 3rd quarter. FMR LLC now owns 1,035,844 shares of the company’s stock valued at $27,730,000 after acquiring an additional 70,863 shares during the last quarter. State Street Corp increased its position in shares of Byline Bancorp by 6.5% in the 3rd quarter. State Street Corp now owns 845,405 shares of the company’s stock valued at $22,631,000 after buying an additional 51,603 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Byline Bancorp by 71.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 557,242 shares of the company’s stock valued at $14,917,000 after buying an additional 232,530 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Byline Bancorp by 20.4% in the 2nd quarter. American Century Companies Inc. now owns 518,727 shares of the company’s stock valued at $12,315,000 after buying an additional 87,796 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Byline Bancorp Company Profile

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.