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

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) saw a large growth in short interest in 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. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 148,800 shares, the short-interest ratio is presently 3.5 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BY. Keefe, Bruyette & Woods lifted their price objective on shares of Byline Bancorp from $29.00 to $33.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler reaffirmed an "overweight" rating and issued a $34.00 price target on shares of Byline Bancorp in a report on Tuesday, October 29th.

Institutional Trading of Byline Bancorp

Several large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of Byline Bancorp during the second quarter valued at $26,000. Ashton Thomas Private Wealth LLC purchased a new position in Byline Bancorp during the 2nd quarter valued at about $61,000. New York State Teachers Retirement System increased its holdings in shares of 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 in the second quarter worth approximately $88,000. Finally, US Bancorp DE boosted its holdings in shares of Byline Bancorp by 995.8% during the third 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 and hedge funds.

Byline Bancorp Trading Down 2.0 %

BY stock traded down $0.58 during mid-day trading on Thursday, reaching $28.42. 98,139 shares of the stock traded hands, compared to its average volume of 136,392. Byline Bancorp has a 52-week low of $19.70 and a 52-week high of $32.89. The stock's fifty day moving average is $30.12 and its 200-day moving average is $27.41. The company has a market cap of $1.26 billion, a P/E ratio of 10.33 and a beta of 1.15.

Byline Bancorp declared that its board has authorized a stock repurchase program on Thursday, December 5th that permits the company to buyback 1,250,000 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Byline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were given a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.36 annualized dividend and a dividend yield of 1.27%. Byline Bancorp's dividend payout ratio (DPR) is presently 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.