Byline Bancorp, Inc. (NYSE:BY) Sees Large Increase in Short Interest

Byline Bancorp, Inc. (NYSE:BY) was the target of a significant increase in short interest in February. As of February 13th, there was short interest totaling 497,852 shares, an increase of 18.9% from the January 29th total of 418,555 shares. Based on an average daily volume of 172,113 shares, the short-interest ratio is currently 2.9 days. Approximately 1.5% of the shares of the stock are sold short. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily volume of 172,113 shares, the short-interest ratio is currently 2.9 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC increased its holdings in Byline Bancorp by 34.4% in the 1st quarter. AQR Capital Management LLC now owns 137,998 shares of the company’s stock worth $3,610,000 after buying an additional 35,324 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Byline Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company’s stock valued at $484,000 after acquiring an additional 770 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Byline Bancorp by 7.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company’s stock worth $1,995,000 after purchasing an additional 5,213 shares in the last quarter. Jane Street Group LLC increased its stake in Byline Bancorp by 71.0% in the 1st quarter. Jane Street Group LLC now owns 152,478 shares of the company’s stock worth $3,989,000 after buying an additional 63,317 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its holdings in Byline Bancorp by 79.5% during the second quarter. Campbell & CO Investment Adviser LLC now owns 25,461 shares of the company’s stock valued at $681,000 after acquiring an additional 11,277 shares during the period. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Zacks Research raised Byline Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Byline Bancorp in a research note on Wednesday, January 21st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $37.00 target price on shares of Byline Bancorp in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $33.67.

Byline Bancorp Stock Up 0.6%

Shares of NYSE:BY traded up $0.18 during trading on Wednesday, hitting $31.94. The stock had a trading volume of 161,084 shares, compared to its average volume of 158,184. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.46 billion, a PE ratio of 11.09 and a beta of 0.84. The firm’s fifty day moving average is $31.38 and its 200 day moving average is $29.31. Byline Bancorp has a 12 month low of $22.63 and a 12 month high of $33.89.

Byline Bancorp (NYSE:BY) last released its earnings results on Thursday, January 22nd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The firm had revenue of $117.01 million for the quarter, compared to the consensus estimate of $112.51 million. Byline Bancorp had a net margin of 20.54% and a return on equity of 11.19%. Analysts anticipate that Byline Bancorp will post 2.6 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Tuesday, February 3rd were paid a $0.12 dividend. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, February 3rd. Byline Bancorp’s payout ratio is currently 16.67%.

Byline Bancorp announced that its Board of Directors has approved a stock buyback plan on Thursday, December 11th that permits the company to buyback $2.25 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

About Byline Bancorp

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.