Byline Bancorp, Inc. (NYSE:BY) Short Interest Down 6.2% in August

Byline Bancorp, Inc. (NYSE:BY) was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totalling 545,800 shares, a decline of 6.2% from the July 31st total of 582,000 shares. Based on an average daily volume of 173,000 shares, the short-interest ratio is presently 3.2 days. Approximately 2.2% of the company’s stock are short sold.

Insider Activity at Byline Bancorp

In related news, Director Pamela C. Stewart acquired 3,850 shares of Byline Bancorp stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $25.99 per share, for a total transaction of $100,061.50. Following the completion of the purchase, the director now owns 6,336 shares in the company, valued at $164,672.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Pamela C. Stewart acquired 3,850 shares of the stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average cost of $25.99 per share, with a total value of $100,061.50. Following the completion of the transaction, the director now owns 6,336 shares in the company, valued at approximately $164,672.64. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Barkidjija sold 27,009 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $28.18, for a total transaction of $761,113.62. Following the sale, the insider now owns 22,691 shares in the company, valued at $639,432.38. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 4,210 shares of company stock worth $108,470 and sold 50,309 shares worth $1,357,654. Company insiders own 30.06% of the company’s stock.

Institutional Trading of Byline Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of BY. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Byline Bancorp by 115.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,793 shares of the company’s stock valued at $278,000 after acquiring an additional 6,307 shares during the last quarter. Swiss National Bank raised its stake in shares of Byline Bancorp by 12.9% during the fourth quarter. Swiss National Bank now owns 60,300 shares of the company’s stock worth $1,421,000 after purchasing an additional 6,900 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Byline Bancorp by 2.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 24,330 shares of the company’s stock worth $573,000 after purchasing an additional 570 shares during the period. Charles Schwab Investment Management Inc. grew its position in Byline Bancorp by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 220,717 shares of the company’s stock valued at $5,200,000 after buying an additional 8,846 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 buying an additional 68,552 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Byline Bancorp Price Performance

NYSE BY opened at $27.42 on Wednesday. The company has a fifty day moving average of $26.21 and a two-hundred day moving average of $23.34. The company has a market capitalization of $1.21 billion, a PE ratio of 10.04 and a beta of 1.14. Byline Bancorp has a 1 year low of $18.39 and a 1 year high of $29.49.

Byline Bancorp (NYSE:BY) last announced its earnings results on Thursday, July 25th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $154.41 million during the quarter, compared to analysts’ expectations of $99.25 million. Byline Bancorp had a return on equity of 12.69% and a net margin of 19.42%. During the same period in the prior year, the firm earned $0.73 EPS. On average, research analysts expect that Byline Bancorp will post 2.67 earnings per share for the current year.

Byline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.31%. Byline Bancorp’s payout ratio is 13.19%.

Wall Street Analysts Forecast Growth

BY has been the topic of several recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $34.00 target price (up previously from $27.00) on shares of Byline Bancorp in a report on Wednesday, July 31st. Hovde Group assumed coverage on Byline Bancorp in a research report on Monday, May 20th. They set an “outperform” rating and a $27.50 target price on the stock. Keefe, Bruyette & Woods boosted their target price on Byline Bancorp from $25.00 to $29.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, Stephens increased their price target on shares of Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th.

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.