Byline Bancorp, Inc. (NYSE:BY) Short Interest Up 21.6% in January

Byline Bancorp, Inc. (NYSE:BY) was the recipient of a significant increase in short interest in January. As of January 30th, there was short interest totaling 418,555 shares, an increase of 21.6% from the January 15th total of 344,091 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily volume of 268,211 shares, the short-interest ratio is presently 1.6 days. Based on an average daily volume of 268,211 shares, the short-interest ratio is presently 1.6 days. Currently, 1.3% of the company’s stock are short sold.

Byline Bancorp Trading Down 0.4%

Shares of Byline Bancorp stock traded down $0.12 during trading hours on Wednesday, hitting $33.05. 17,470 shares of the company were exchanged, compared to its average volume of 203,131. The business has a 50-day moving average of $31.00 and a 200-day moving average of $28.88. Byline Bancorp has a 1 year low of $22.63 and a 1 year high of $33.89. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 11.48 and a beta of 0.87.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. Byline Bancorp had a net margin of 20.54% and a return on equity of 11.38%. The company had revenue of $117.01 million during the quarter, compared to the consensus estimate of $112.51 million. As a group, research analysts anticipate that Byline Bancorp will post 2.6 earnings per share for the current fiscal year.

Byline Bancorp announced that its Board of Directors has authorized a share buyback plan on Thursday, December 11th that allows the company to repurchase $2.25 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 0.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Byline Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd were given a $0.12 dividend. The ex-dividend date was Tuesday, February 3rd. 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 yield of 1.5%. Byline Bancorp’s payout ratio is 16.67%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on Byline Bancorp from $31.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, October 27th. Zacks Research upgraded shares of Byline Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Byline Bancorp in a report on Wednesday, January 21st. Finally, Piper Sandler reissued an “overweight” rating and issued a $37.00 target price on shares of Byline Bancorp in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $33.67.

Hedge Funds Weigh In On Byline Bancorp

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Byline Bancorp by 99.5% in the third quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock valued at $30,000 after buying an additional 546 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Byline Bancorp in the third quarter valued at $46,000. Clearstead Advisors LLC boosted its position in shares of Byline Bancorp by 83.1% during the 4th quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock worth $46,000 after purchasing an additional 716 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Byline Bancorp by 15.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock worth $69,000 after purchasing an additional 313 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Byline Bancorp by 1,572.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock worth $79,000 after purchasing an additional 2,689 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.