Byline Bancorp, Inc. (NYSE:BY) Short Interest Down 7.2% in March

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

Byline Bancorp Price Performance

NYSE BY opened at $20.18 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $20.83 and a 200 day simple moving average of $21.12. The company has a market cap of $895.57 million, a P/E ratio of 7.56 and a beta of 1.14. Byline Bancorp has a 1 year low of $16.40 and a 1 year high of $24.52.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $101.07 million. On average, sell-side analysts predict that Byline Bancorp will post 2.53 EPS for the current year.

Byline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Tuesday, February 6th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Monday, February 5th. Byline Bancorp’s payout ratio is 13.48%.

Analyst Upgrades and Downgrades

Several research firms have commented on BY. Stephens decreased their target price on shares of Byline Bancorp from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 3rd. Piper Sandler increased their target price on shares of Byline Bancorp from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th.

Insider Buying and Selling at Byline Bancorp

In related news, Director Ana Casanueva sold 1,500 shares of Byline Bancorp stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $21.54, for a total transaction of $32,310.00. Following the transaction, the director now owns 2,131 shares in the company, valued at approximately $45,901.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Byline Bancorp news, Director Ana Casanueva sold 1,500 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $21.54, for a total value of $32,310.00. Following the transaction, the director now owns 2,131 shares in the company, valued at approximately $45,901.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Alberto J. Paracchini sold 20,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $21.01, for a total transaction of $420,200.00. Following the completion of the transaction, the president now owns 205,537 shares in the company, valued at approximately $4,318,332.37. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 10,585 shares of company stock worth $218,810 and have sold 28,409 shares worth $598,238. 35.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Byline Bancorp

Hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Byline Bancorp by 122.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 122,735 shares of the company’s stock valued at $2,892,000 after acquiring an additional 67,614 shares in the last quarter. FMR LLC raised its holdings in shares of Byline Bancorp by 18.4% in the third quarter. FMR LLC now owns 767,331 shares of the company’s stock valued at $15,124,000 after purchasing an additional 119,383 shares during the last quarter. Vanguard Group Inc. increased its holdings in Byline Bancorp by 5.8% during the third quarter. Vanguard Group Inc. now owns 1,449,974 shares of the company’s stock worth $28,579,000 after buying an additional 79,051 shares during the last quarter. Alps Advisors Inc. increased 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 buying an additional 2,027 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Byline Bancorp in the third quarter valued at about $388,000. Institutional investors and hedge funds 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.