Byline Bancorp, Inc. (NYSE:BY) Short Interest Down 29.0% in August

Key Points

• Byline Bancorp, Inc. experienced a 29.0% decrease in short interest in August, with totals falling from 445,300 shares to 316,200 shares.
• Insider Dana Rose sold 1,999 shares at an average price of $28.76, reducing their stake by 16.40%.
• Byline Bancorp recently declared a quarterly dividend of $0.10, resulting in an annualized yield of 1.4%.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 316,200 shares, a drop of 29.0% from the August 15th total of 445,300 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 260,900 shares, the days-to-cover ratio is currently 1.2 days. Based on an average daily volume of 260,900 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.0% of the shares of the stock are sold short.

Byline Bancorp Price Performance

BY traded down $0.77 during trading on Friday, reaching $28.50. The company had a trading volume of 1,349,290 shares, compared to its average volume of 174,708. Byline Bancorp has a 12 month low of $22.63 and a 12 month high of $32.89. The business's fifty day moving average price is $27.82 and its 200 day moving average price is $26.66. The company has a market cap of $1.31 billion, a P/E ratio of 10.63 and a beta of 0.91.

Byline Bancorp (NYSE:BY - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. Byline Bancorp had a net margin of 19.03% and a return on equity of 10.98%. The firm had revenue of $110.45 million for the quarter, compared to analyst estimates of $106.95 million. As a group, sell-side analysts predict that Byline Bancorp will post 2.6 EPS for the current fiscal year.

Byline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 5th were issued a $0.10 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.4%. Byline Bancorp's dividend payout ratio (DPR) is 14.93%.

Insiders Place Their Bets

In other Byline Bancorp news, insider Dana Rose sold 1,999 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $28.76, for a total value of $57,491.24. Following the completion of the sale, the insider owned 10,192 shares in the company, valued at approximately $293,121.92. This trade represents a 16.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 28.79% of the company's stock.

Hedge Funds Weigh In On Byline Bancorp

A number of institutional investors have recently added to or reduced their stakes in BY. Squarepoint Ops LLC acquired a new position in shares of Byline Bancorp in the second quarter valued at $862,000. Thrivent Financial for Lutherans lifted its position in Byline Bancorp by 575.7% during the second quarter. Thrivent Financial for Lutherans now owns 53,781 shares of the company's stock worth $1,438,000 after purchasing an additional 45,822 shares during the period. Tower Research Capital LLC TRC lifted its position in Byline Bancorp by 319.3% during the second quarter. Tower Research Capital LLC TRC now owns 3,904 shares of the company's stock worth $104,000 after purchasing an additional 2,973 shares during the period. Rafferty Asset Management LLC lifted its position in Byline Bancorp by 25.8% during the second quarter. Rafferty Asset Management LLC now owns 24,147 shares of the company's stock worth $645,000 after purchasing an additional 4,951 shares during the period. Finally, Oxford Asset Management LLP acquired a new position in Byline Bancorp during the second quarter worth about $249,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.