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

Byline Bancorp, Inc. (NYSE:BY) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 525,000 shares, a growth of 7.6% from the November 30th total of 487,700 shares. Approximately 2.1% of the shares of the company are short sold. Based on an average trading volume of 148,800 shares, the short-interest ratio is presently 3.5 days.

Hedge Funds Weigh In On Byline Bancorp

A number of large investors have recently made changes to their positions in BY. Point72 Asset Management L.P. bought a new position in shares of Byline Bancorp in the second quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new position in Byline Bancorp in the 2nd quarter valued at $61,000. New York State Teachers Retirement System grew its position in shares of Byline Bancorp by 25.3% during the 3rd quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock valued at $76,000 after purchasing an additional 574 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Byline Bancorp during the 2nd quarter valued at $88,000. Finally, US Bancorp DE raised its position in shares of Byline Bancorp by 995.8% in the third quarter. US Bancorp DE now owns 4,646 shares of the company’s stock worth $124,000 after buying an additional 4,222 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BY shares. Piper Sandler restated an “overweight” rating and set a $34.00 price target on shares of Byline Bancorp in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods raised their target price on Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Byline Bancorp Stock Up 0.1 %

BY opened at $29.00 on Thursday. The firm has a 50-day moving average price of $30.08 and a 200-day moving average price of $27.41. Byline Bancorp has a twelve month low of $19.70 and a twelve month high of $32.89. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 10.55 and a beta of 1.15.

Byline Bancorp announced that its board has initiated a stock repurchase program on Thursday, December 5th that authorizes the company to buyback 1,250,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Byline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.36 dividend on an annualized basis and a yield of 1.24%. Byline Bancorp’s dividend payout ratio is 13.09%.

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.