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

Byline Bancorp, Inc. (NYSE:BY) saw a significant 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. Currently, 2.1% of the company’s shares are short sold. Based on an average daily trading volume, of 148,800 shares, the days-to-cover ratio is presently 3.5 days.

Institutional Investors Weigh In On Byline Bancorp

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

Analyst Ratings Changes

BY has been the subject of several recent research reports. Piper Sandler reissued an “overweight” rating and issued a $34.00 price target on shares of Byline Bancorp in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price target on shares of Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Byline Bancorp Stock Performance

Shares of NYSE BY opened at $29.00 on Thursday. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 10.55 and a beta of 1.15. Byline Bancorp has a fifty-two week low of $19.70 and a fifty-two week high of $32.89. The firm’s 50-day simple moving average is $30.08 and its 200 day simple moving average is $27.41.

Byline Bancorp declared that its board has authorized a share repurchase plan on Thursday, December 5th that permits the company to buyback 1,250,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Byline Bancorp Dividend Announcement

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

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.