Short Interest in Byline Bancorp, Inc. (NYSE:BY) Grows By 7.6%

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

Institutional Investors Weigh In On Byline Bancorp

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Byline Bancorp by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,855,547 shares of the company’s stock valued at $44,049,000 after purchasing an additional 106,940 shares during the last quarter. FMR LLC lifted its stake in Byline Bancorp by 7.3% in the 3rd quarter. FMR LLC now owns 1,035,844 shares of the company’s stock valued at $27,730,000 after purchasing an additional 70,863 shares during the last quarter. State Street Corp lifted its stake in Byline Bancorp by 6.5% in the 3rd quarter. State Street Corp now owns 845,405 shares of the company’s stock valued at $22,631,000 after purchasing an additional 51,603 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Byline Bancorp by 71.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 557,242 shares of the company’s stock valued at $14,917,000 after purchasing an additional 232,530 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Byline Bancorp by 20.4% in the 2nd quarter. American Century Companies Inc. now owns 518,727 shares of the company’s stock valued at $12,315,000 after acquiring an additional 87,796 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Byline Bancorp Trading Up 0.1 %

Shares of NYSE BY opened at $29.00 on Thursday. The firm has a market cap of $1.29 billion, a PE ratio of 10.55 and a beta of 1.15. Byline Bancorp has a 1-year low of $19.70 and a 1-year high of $32.89. The company has a fifty day moving average price of $30.08 and a 200 day moving average price of $27.41.

Byline Bancorp declared that its board has approved a share buyback program on Thursday, December 5th that allows the company to buyback 1,250,000 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often 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. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.24%. Byline Bancorp’s dividend payout ratio is 13.09%.

Analyst Ratings Changes

A number of research firms recently commented on BY. Keefe, Bruyette & Woods upped their price objective on shares of Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $34.00 target price on shares of Byline Bancorp in a research note on Tuesday, October 29th.

Byline Bancorp Company Profile

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.