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

Byline Bancorp, Inc. (NYSE:BY) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 405,600 shares, a decline of 7.2% from the March 15th total of 437,300 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average trading volume of 100,400 shares, the short-interest ratio is currently 4.0 days.

Byline Bancorp Stock Performance

Shares of BY opened at $19.82 on Thursday. Byline Bancorp has a 1 year low of $16.40 and a 1 year high of $24.52. The stock has a market capitalization of $879.61 million, a PE ratio of 7.42 and a beta of 1.14. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a 50-day simple moving average of $20.81 and a 200-day simple moving average of $21.11.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, January 25th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06. Byline Bancorp had a net margin of 20.13% and a return on equity of 13.27%. The firm had revenue of $100.79 million for the quarter, compared to analysts’ expectations of $101.07 million. On average, analysts predict that Byline Bancorp will post 2.53 earnings per share for the current fiscal year.

Byline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Tuesday, February 6th were given a dividend of $0.09 per share. The ex-dividend date was Monday, February 5th. This represents a $0.36 annualized dividend and a dividend yield of 1.82%. Byline Bancorp’s dividend payout ratio (DPR) is currently 13.48%.

Insider Activity

In other news, Director Valle Perochena Antonio Del bought 7,103 shares of the business’s stock in a transaction on Friday, March 1st. The shares were bought at an average price of $20.65 per share, with a total value of $146,676.95. Following the completion of the transaction, the director now directly owns 11,835,145 shares in the company, valued at $244,395,744.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Byline Bancorp news, major shareholder Investors I. L.P. Mbg purchased 2,897 shares of Byline Bancorp stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $20.76 per share, with a total value of $60,141.72. Following the completion of the transaction, the insider now owns 11,828,042 shares of the company’s stock, valued at $245,550,151.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Valle Perochena Antonio Del acquired 7,103 shares of the stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $20.65 per share, with a total value of $146,676.95. Following the purchase, the director now owns 11,835,145 shares of the company’s stock, valued at approximately $244,395,744.25. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 10,585 shares of company stock valued at $218,810 and have sold 28,409 shares valued at $598,238. Insiders own 35.04% of the company’s stock.

Hedge Funds Weigh In On Byline Bancorp

Large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its position in shares of Byline Bancorp by 122.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 122,735 shares of the company’s stock worth $2,892,000 after acquiring an additional 67,614 shares in the last quarter. Vanguard Group Inc. increased its stake in Byline Bancorp by 5.8% in the third 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 during the last quarter. FMR LLC raised its holdings in Byline Bancorp by 18.4% during the third quarter. FMR LLC now owns 767,331 shares of the company’s stock worth $15,124,000 after purchasing an additional 119,383 shares in the last quarter. Alps Advisors Inc. raised its holdings in Byline Bancorp by 14.1% during the third quarter. Alps Advisors Inc. now owns 16,362 shares of the company’s stock worth $322,000 after purchasing an additional 2,027 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Byline Bancorp during the 3rd quarter worth approximately $388,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

BY has been the topic of a number of research reports. Stephens reduced their target price on shares of Byline Bancorp from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 3rd. Piper Sandler increased their price objective on Byline Bancorp from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, January 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.