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

Byline Bancorp, Inc. (NYSE:BY) was the recipient of a large increase in short interest in 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. Approximately 2.6% of the shares of the company are sold short. Based on an average daily volume of 154,100 shares, the short-interest ratio is presently 4.1 days.

Byline Bancorp Stock Down 2.8 %

Shares of BY traded down $0.82 during trading hours on Monday, reaching $28.30. 196,609 shares of the company traded hands, compared to its average volume of 126,154. The stock has a market capitalization of $1.25 billion, a PE ratio of 10.36 and a beta of 1.14. The stock has a fifty day simple moving average of $24.24 and a 200 day simple moving average of $22.47. Byline Bancorp has a fifty-two week low of $18.39 and a fifty-two week high of $29.49.

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

Byline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th will be given 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 dividend payout ratio is presently 13.19%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Stephens reduced their price target 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. Hovde Group assumed coverage on Byline Bancorp in a research report on Monday, May 20th. They issued an “outperform” rating and a $27.50 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Byline Bancorp from $25.00 to $29.00 and gave the stock a “market perform” rating in a research report on Monday.

Insider Buying and Selling

In related news, insider John Barkidjija sold 10,000 shares of the firm’s 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 transaction, the insider now owns 30,691 shares of the company’s stock, valued at $694,844.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 30.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Byline Bancorp

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in Byline Bancorp by 13.2% during the second quarter. Principal Financial Group Inc. now owns 16,614 shares of the company’s stock worth $394,000 after acquiring an additional 1,932 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Byline Bancorp in the second quarter worth $48,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Byline Bancorp by 10.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,070 shares of the company’s stock valued at $310,000 after acquiring an additional 1,277 shares during the period. Bailard Inc. raised its stake in shares of Byline Bancorp by 72.3% in the 2nd quarter. Bailard Inc. now owns 19,300 shares of the company’s stock valued at $458,000 after acquiring an additional 8,100 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Byline Bancorp by 16.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 191,122 shares of the company’s stock valued at $4,537,000 after acquiring an additional 26,539 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s 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.