Short Interest in Byline Bancorp Inc (NYSE:BY) Grows By 37.0%

Byline Bancorp Inc (NYSE:BY) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 214,800 shares, a growth of 37.0% from the September 30th total of 156,800 shares. Based on an average daily trading volume, of 81,500 shares, the days-to-cover ratio is presently 2.6 days. Approximately 0.9% of the company’s stock are sold short.

Shares of Byline Bancorp stock traded down $0.05 during trading on Tuesday, reaching $18.56. The company’s stock had a trading volume of 223 shares, compared to its average volume of 89,999. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.71. The firm has a market cap of $711.22 million, a PE ratio of 15.73, a P/E/G ratio of 1.19 and a beta of 1.05. The company has a 50-day moving average price of $17.87 and a two-hundred day moving average price of $18.43. Byline Bancorp has a fifty-two week low of $15.39 and a fifty-two week high of $21.98.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings data on Friday, October 25th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. The company had revenue of $72.64 million for the quarter, compared to analysts’ expectations of $69.40 million. Byline Bancorp had a net margin of 18.36% and a return on equity of 9.45%. On average, analysts predict that Byline Bancorp will post 1.57 earnings per share for the current fiscal year.

In other news, insider Brogan Ptacin sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $17.33, for a total transaction of $95,315.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 39.21% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in Byline Bancorp by 16.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 289,185 shares of the company’s stock valued at $5,170,000 after buying an additional 41,264 shares during the period. California Public Employees Retirement System acquired a new position in Byline Bancorp in the 3rd quarter valued at $202,000. Rhumbline Advisers increased its stake in Byline Bancorp by 10.6% in the 3rd quarter. Rhumbline Advisers now owns 32,891 shares of the company’s stock valued at $588,000 after buying an additional 3,143 shares during the period. Strs Ohio increased its stake in Byline Bancorp by 1.8% in the 3rd quarter. Strs Ohio now owns 34,200 shares of the company’s stock valued at $611,000 after buying an additional 600 shares during the period. Finally, Citadel Advisors LLC acquired a new position in Byline Bancorp in the 2nd quarter valued at $672,000. 32.17% of the stock is currently owned by institutional investors.

A number of equities analysts have recently commented on BY shares. Zacks Investment Research raised shares of Byline Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 14th. Piper Jaffray Companies cut their target price on shares of Byline Bancorp from $23.50 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Finally, ValuEngine raised shares of Byline Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Byline Bancorp Company Profile

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides a range of banking products and services to small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers non-interest bearing accounts, money market demand accounts, savings accounts, interest bearing checking accounts, and time deposits, as well as certificates of deposit.

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