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) saw 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. Based on an average daily trading volume, of 260,900 shares, the short-interest ratio is currently 1.2 days. Approximately 1.0% of the company's stock are sold short. Approximately 1.0% of the company's stock are sold short. Based on an average daily trading volume, of 260,900 shares, the short-interest ratio is currently 1.2 days.

Insiders Place Their Bets

In related news, insider Dana Rose sold 1,999 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $28.76, for a total transaction of $57,491.24. Following the completion of the transaction, the insider owned 10,192 shares of the company's stock, valued at $293,121.92. This trade represents a 16.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 28.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Byline Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of BY. Northern Trust Corp lifted its position in Byline Bancorp by 7.1% during the fourth quarter. Northern Trust Corp now owns 273,390 shares of the company's stock valued at $7,928,000 after purchasing an additional 18,236 shares in the last quarter. Bank of America Corp DE lifted its position in Byline Bancorp by 14.3% during the fourth quarter. Bank of America Corp DE now owns 53,363 shares of the company's stock valued at $1,548,000 after purchasing an additional 6,672 shares in the last quarter. Deutsche Bank AG lifted its position in Byline Bancorp by 54.3% during the fourth quarter. Deutsche Bank AG now owns 27,086 shares of the company's stock valued at $785,000 after purchasing an additional 9,528 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Byline Bancorp by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,721 shares of the company's stock valued at $514,000 after purchasing an additional 620 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Byline Bancorp by 1.0% during the fourth quarter. Nuveen Asset Management LLC now owns 325,516 shares of the company's stock valued at $9,440,000 after purchasing an additional 3,343 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Byline Bancorp Price Performance

Shares of BY opened at $28.72 on Tuesday. Byline Bancorp has a one year low of $22.63 and a one year high of $32.89. The firm has a market capitalization of $1.32 billion, a P/E ratio of 10.72 and a beta of 0.91. The business has a fifty day moving average of $27.79 and a 200 day moving average of $26.63.

Byline Bancorp (NYSE:BY - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Byline Bancorp had a return on equity of 10.98% and a net margin of 19.03%.The company had revenue of $110.45 million during the quarter, compared to analyst estimates of $106.95 million. Analysts expect that Byline Bancorp will post 2.6 EPS for the current fiscal year.

Byline Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.40 annualized dividend and a dividend yield of 1.4%. Byline Bancorp's payout ratio is presently 14.93%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group set a $32.00 target price on Byline Bancorp in a report on Monday, May 19th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $33.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.