Short Interest in Byline Bancorp, Inc. (NYSE:BY) Expands By 42.7%

Byline Bancorp, Inc. (NYSE:BY) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 632,900 shares, an increase of 42.7% from the June 30th total of 443,400 shares. Based on an average daily volume of 154,100 shares, the short-interest ratio is presently 4.1 days. Approximately 2.6% of the company’s shares are sold short.

Insider Activity

In other Byline Bancorp news, insider John Barkidjija sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $22.64, for a total value of $226,400.00. Following the completion of the transaction, the insider now directly owns 30,691 shares in the company, valued at $694,844.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. 30.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Byline Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC raised its holdings in Byline Bancorp by 104.5% during the second quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $31,000 after buying an additional 676 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Byline Bancorp during the 2nd quarter valued at about $48,000. Comerica Bank raised its stake in shares of 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 acquiring an additional 8,533 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Byline Bancorp in the 4th quarter worth approximately $194,000. Finally, Arizona State Retirement System acquired a new stake in Byline Bancorp in the 4th quarter worth approximately $201,000. Institutional investors own 67.73% of the company’s stock.

Byline Bancorp Stock Down 2.8 %

Shares of Byline Bancorp stock traded down $0.82 on Monday, hitting $28.30. 196,609 shares of the company traded hands, compared to its average volume of 126,154. Byline Bancorp has a 12-month low of $18.39 and a 12-month high of $29.49. The company has a market cap of $1.25 billion, a PE ratio of 10.36 and a beta of 1.14. The company has a 50-day moving average price of $24.24 and a 200 day moving average price of $22.47.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, July 25th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Byline Bancorp had a return on equity of 12.89% and a net margin of 19.42%. The firm had revenue of $154.41 million for the quarter, compared to the consensus estimate of $99.25 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. Equities research analysts anticipate that Byline Bancorp will post 2.62 EPS for the current year.

Byline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $0.36 annualized dividend and a dividend yield of 1.27%. Byline Bancorp’s payout ratio is 13.19%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BY shares. Stephens reduced their target price on Byline Bancorp from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, April 3rd. Keefe, Bruyette & Woods raised their price objective on Byline Bancorp from $25.00 to $29.00 and gave the stock a “market perform” rating in a research report on Monday. Finally, Hovde Group began coverage on Byline Bancorp in a report on Monday, May 20th. They issued an “outperform” rating and a $27.50 target price 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.