Byline Bancorp, Inc. (NYSE:BY) Sees Significant Decrease in Short Interest

Byline Bancorp, Inc. (NYSE:BY) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 405,600 shares, a decline of 7.2% from the March 15th total of 437,300 shares. Based on an average daily trading volume, of 100,400 shares, the short-interest ratio is currently 4.0 days. Approximately 1.6% of the company’s shares are short sold.

Insider Activity

In other Byline Bancorp news, President Alberto J. Paracchini sold 20,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $21.01, for a total value of $420,200.00. Following the completion of the transaction, the president now directly owns 205,537 shares in the company, valued at approximately $4,318,332.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Valle Perochena Antonio Del acquired 7,103 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was bought at an average price of $20.65 per share, with a total value of $146,676.95. Following the purchase, the director now directly owns 11,835,145 shares in the company, valued at approximately $244,395,744.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Alberto J. Paracchini sold 20,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $21.01, for a total transaction of $420,200.00. Following the transaction, the president now owns 205,537 shares in the company, valued at $4,318,332.37. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 10,585 shares of company stock valued at $218,810 and sold 28,409 shares valued at $598,238. Company insiders own 35.04% of the company’s stock.

Hedge Funds Weigh In On Byline Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in shares of Byline Bancorp by 100.0% during the 1st quarter. JPMorgan Chase & Co. now owns 477,177 shares of the company’s stock valued at $12,731,000 after buying an additional 238,563 shares during the period. Bank of New York Mellon Corp grew its position in Byline Bancorp by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 127,968 shares of the company’s stock valued at $3,414,000 after acquiring an additional 2,135 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Byline Bancorp by 53.6% during the first quarter. MetLife Investment Management LLC now owns 13,551 shares of the company’s stock valued at $362,000 after purchasing an additional 4,730 shares during the period. BlackRock Inc. lifted its position in shares of Byline Bancorp by 2.2% during the first quarter. BlackRock Inc. now owns 1,942,398 shares of the company’s stock worth $51,824,000 after purchasing an additional 42,019 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Byline Bancorp by 9.5% in the first quarter. Dimensional Fund Advisors LP now owns 942,858 shares of the company’s stock valued at $25,155,000 after purchasing an additional 81,774 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BY. Piper Sandler upped their price target on shares of Byline Bancorp from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Stephens dropped their price objective on Byline Bancorp from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, April 3rd.

Byline Bancorp Stock Performance

Shares of NYSE:BY opened at $19.82 on Thursday. The business has a 50-day moving average of $20.81 and a two-hundred day moving average of $21.11. The firm has a market capitalization of $879.61 million, a PE ratio of 7.42 and a beta of 1.14. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.92 and a quick ratio of 0.91. Byline Bancorp has a 12 month low of $16.40 and a 12 month high of $24.52.

Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, January 25th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. Byline Bancorp had a net margin of 20.13% and a return on equity of 13.27%. The firm had revenue of $100.79 million during the quarter, compared to the consensus estimate of $101.07 million. As a group, research analysts forecast that Byline Bancorp will post 2.53 earnings per share for the current year.

Byline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Tuesday, February 6th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Monday, February 5th. Byline Bancorp’s payout ratio is currently 13.48%.

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.