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

Byline Bancorp, Inc. (NYSE:BY) saw a large 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. Currently, 1.8% of the company’s stock are short sold. Based on an average daily trading volume, of 106,400 shares, the short-interest ratio is currently 4.1 days.

Wall Street Analyst Weigh In

BY has been the subject of several analyst reports. Hovde Group initiated coverage on Byline Bancorp in a research note on Monday, May 20th. They set an “outperform” rating and a $27.50 price objective for the company. Stephens reduced their price objective on 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.

Insiders Place Their Bets

In other Byline Bancorp news, insider John Barkidjija sold 10,000 shares of Byline Bancorp stock in a transaction dated Thursday, June 13th. The stock was 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 directly owns 30,691 shares of the company’s stock, valued at approximately $694,844.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 30.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Mendon Capital Advisors Corp acquired a new stake in Byline Bancorp in the 4th quarter valued at $8,246,000. FMR LLC increased its holdings in Byline Bancorp by 18.4% in 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. Vanguard Group Inc. increased its holdings in Byline Bancorp by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,449,974 shares of the company’s stock valued at $28,579,000 after purchasing an additional 79,051 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Byline Bancorp by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,626,661 shares of the company’s stock valued at $38,325,000 after purchasing an additional 68,552 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Byline Bancorp by 122.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 122,735 shares of the company’s stock valued at $2,892,000 after purchasing an additional 67,614 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Byline Bancorp Stock Performance

BY stock traded down $0.42 on Wednesday, reaching $23.72. The company had a trading volume of 68,078 shares, compared to its average volume of 114,927. Byline Bancorp has a 1 year low of $17.67 and a 1 year high of $24.52. The company has a market cap of $1.05 billion, a P/E ratio of 8.83 and a beta of 1.14. The company’s fifty day moving average is $22.92 and its 200 day moving average is $22.09.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings results on Friday, April 26th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Byline Bancorp had a return on equity of 13.18% and a net margin of 19.91%. The company had revenue of $153.79 million for the quarter, compared to analyst estimates of $97.35 million. During the same quarter in the prior year, the company posted $0.65 EPS. On average, sell-side analysts predict that Byline Bancorp will post 2.62 earnings per share for the current 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 paid a dividend of $0.09 per share. 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 is presently 13.19%.

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.