Byline Bancorp, Inc. (NYSE:BY – Get Free Report) was the target of a significant decline in short interest in August. As of August 15th, there was short interest totalling 655,000 shares, a decline of 9.1% from the July 31st total of 720,800 shares. Based on an average daily volume of 105,400 shares, the short-interest ratio is currently 6.2 days. Approximately 2.5% of the shares of the stock are sold short.
Byline Bancorp Price Performance
Shares of BY stock traded up $0.59 on Friday, reaching $21.77. 86,249 shares of the company were exchanged, compared to its average volume of 110,051. The company has a market cap of $951.13 million, a price-to-earnings ratio of 8.38 and a beta of 1.19. The company has a 50-day moving average of $20.22 and a 200-day moving average of $20.36. Byline Bancorp has a one year low of $16.40 and a one year high of $26.00.
Byline Bancorp (NYSE:BY – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. Byline Bancorp had a net margin of 22.38% and a return on equity of 12.74%. The company had revenue of $90.46 million for the quarter, compared to analysts’ expectations of $89.00 million. As a group, sell-side analysts predict that Byline Bancorp will post 2.61 EPS for the current year.
Byline Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th were issued a $0.09 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.65%. Byline Bancorp’s dividend payout ratio is presently 13.85%.
Insider Buying and Selling at Byline Bancorp
In related news, Director Mary Jo S. Herseth purchased 1,175 shares of the stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $22.11 per share, for a total transaction of $25,979.25. Following the completion of the acquisition, the director now owns 14,667 shares of the company’s stock, valued at $324,287.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Investors I. L.P. Mbg purchased 10,000 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average cost of $20.65 per share, for a total transaction of $206,500.00. Following the completion of the acquisition, the insider now owns 11,795,601 shares of the company’s stock, valued at $243,579,160.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary Jo S. Herseth purchased 1,175 shares of the stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $22.11 per share, with a total value of $25,979.25. Following the completion of the acquisition, the director now directly owns 14,667 shares of the company’s stock, valued at approximately $324,287.37. The disclosure for this purchase can be found here. Insiders bought a total of 51,175 shares of company stock worth $1,093,169 over the last three months. Corporate insiders own 35.04% of the company’s stock.
Institutional Investors Weigh In On Byline Bancorp
Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC increased its stake in Byline Bancorp by 5.6% in the 4th quarter. SG Americas Securities LLC now owns 13,667 shares of the company’s stock valued at $314,000 after buying an additional 720 shares during the last quarter. Rhumbline Advisers increased its stake in Byline Bancorp by 1.7% in the 1st quarter. Rhumbline Advisers now owns 49,760 shares of the company’s stock valued at $1,076,000 after buying an additional 840 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Byline Bancorp by 19.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,486 shares of the company’s stock valued at $126,000 after buying an additional 904 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Byline Bancorp by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 172,801 shares of the company’s stock valued at $3,736,000 after buying an additional 986 shares during the last quarter. Finally, Swiss National Bank increased its stake in Byline Bancorp by 1.9% in the 4th quarter. Swiss National Bank now owns 54,300 shares of the company’s stock valued at $1,247,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 41.12% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Piper Sandler increased their price objective on Byline Bancorp from $25.00 to $29.00 in a report on Tuesday, August 1st.
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.