Byline Bancorp, Inc. (NYSE:BY) Short Interest Update

Byline Bancorp, Inc. (NYSE:BY) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 416,600 shares, a growth of 5.8% from the May 15th total of 393,900 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 99,900 shares, the days-to-cover ratio is presently 4.2 days.

Byline Bancorp Stock Performance

Shares of Byline Bancorp stock opened at $22.92 on Thursday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 8.40 and a beta of 1.12. The stock has a 50 day moving average price of $22.41 and a 200-day moving average price of $22.03. Byline Bancorp has a one year low of $17.66 and a one year high of $24.52.

Byline Bancorp (NYSE:BY) last announced its earnings results on Friday, April 26th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Byline Bancorp had a net margin of 19.91% and a return on equity of 13.18%. The business had revenue of $153.79 million for the quarter, compared to the consensus estimate of $97.35 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Sell-side analysts predict that Byline Bancorp will post 2.62 earnings per share for the current fiscal year.

Byline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 7th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.57%. Byline Bancorp’s dividend payout ratio is 13.19%.

Insider Transactions at Byline Bancorp

In other Byline Bancorp news, insider John Barkidjija sold 10,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $22.64, for a total transaction of $226,400.00. Following the completion of the transaction, the insider now owns 30,691 shares of the company’s stock, valued at approximately $694,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 30.06% of the company’s stock.

Institutional Investors Weigh In On Byline Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank boosted its position in Byline Bancorp by 17,066.0% in the 1st quarter. Comerica Bank now owns 8,583 shares of the company’s stock valued at $186,000 after buying an additional 8,533 shares during the period. Vanguard Group Inc. raised its stake in shares of Byline Bancorp by 3.4% during the first quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock valued at $33,700,000 after acquiring an additional 51,682 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Byline Bancorp in the first quarter valued at approximately $216,000. Sei Investments Co. grew its stake in Byline Bancorp by 5.4% in the first quarter. Sei Investments Co. now owns 171,282 shares of the company’s stock worth $3,720,000 after purchasing an additional 8,847 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Byline Bancorp by 15.3% during the 1st quarter. Empowered Funds LLC now owns 136,681 shares of the company’s stock worth $2,969,000 after purchasing an additional 18,125 shares during the period. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on BY. Hovde Group began coverage on shares of Byline Bancorp in a report on Monday, May 20th. They issued an “outperform” rating and a $27.50 target price for the company. Stephens dropped their price objective on shares of Byline Bancorp from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd.

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.