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

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

Byline Bancorp Stock Performance

BY opened at $23.72 on Friday. The company’s 50 day simple moving average is $23.02 and its 200 day simple moving average is $22.11. Byline Bancorp has a 1 year low of $17.67 and a 1 year high of $24.52. The stock has a market capitalization of $1.05 billion, a PE ratio of 8.69 and a beta of 1.14.

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

Byline Bancorp Dividend Announcement

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

Insider Buying and Selling

In other news, insider John Barkidjija sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 30,691 shares in the company, valued at approximately $694,844.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 30.06% of the stock is owned by insiders.

Institutional Trading of Byline Bancorp

A number of hedge funds have recently made changes to their positions in BY. Charles Schwab Investment Management Inc. raised its stake in shares of Byline Bancorp by 21.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 211,871 shares of the company’s stock valued at $4,176,000 after purchasing an additional 37,083 shares during the period. FMR LLC increased its stake in shares of Byline Bancorp by 18.4% in the third quarter. FMR LLC now owns 767,331 shares of the company’s stock worth $15,124,000 after buying an additional 119,383 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Byline Bancorp by 14.1% in the third quarter. Alps Advisors Inc. now owns 16,362 shares of the company’s stock worth $322,000 after buying an additional 2,027 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Byline Bancorp by 13.8% in the third quarter. American Century Companies Inc. now owns 250,504 shares of the company’s stock worth $4,937,000 after buying an additional 30,394 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Byline Bancorp by 5.8% in the third quarter. Vanguard Group Inc. now owns 1,449,974 shares of the company’s stock worth $28,579,000 after buying an additional 79,051 shares during 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 research reports. Stephens decreased their price objective on shares of Byline Bancorp from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 3rd. Hovde Group initiated coverage on shares of Byline Bancorp in a research report on Monday, May 20th. They issued an “outperform” rating and a $27.50 price objective on the stock.

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.