Byline Bancorp, Inc. (NYSE:BY) Short Interest Update

Key Points

• Byline Bancorp experienced a 56.7% increase in short interest in September, totaling 539,100 shares as of September 30th, indicating rising bearish sentiment.
• Insider Dana Rose sold 1,999 shares on September 12th for approximately $57,491, reducing their ownership in the company by 16.40%.
• Analysts have a consensus rating of "Moderate Buy" for Byline Bancorp, with a price target of $33.25 reflecting potential upside in the stock.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 539,100 shares, an increase of 56.7% from the September 15th total of 344,100 shares. Based on an average daily volume of 221,500 shares, the short-interest ratio is currently 2.4 days. Approximately 1.8% of the company's stock are short sold. Approximately 1.8% of the company's stock are short sold. Based on an average daily volume of 221,500 shares, the short-interest ratio is currently 2.4 days.

Insider Activity at Byline Bancorp

In related news, insider Dana Rose sold 1,999 shares of Byline Bancorp stock in a transaction on 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. The trade was a 16.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 28.79% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BY. Harbor Capital Advisors Inc. grew its position in Byline Bancorp by 5.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,856 shares of the company's stock valued at $263,000 after buying an additional 552 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Byline Bancorp by 26.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,051 shares of the company's stock worth $85,000 after acquiring an additional 643 shares during the period. Legal & General Group Plc boosted its holdings in shares of Byline Bancorp by 2.5% in the second quarter. Legal & General Group Plc now owns 29,577 shares of the company's stock valued at $791,000 after acquiring an additional 712 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Byline Bancorp by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 16,815 shares of the company's stock worth $449,000 after purchasing an additional 728 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Byline Bancorp by 3.4% during the first quarter. Principal Financial Group Inc. now owns 22,758 shares of the company's stock worth $595,000 after purchasing an additional 740 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Byline Bancorp Stock Down 0.1%

BY stock traded down $0.02 during mid-day trading on Wednesday, reaching $26.92. The company had a trading volume of 147,810 shares, compared to its average volume of 169,883. The stock's 50-day simple moving average is $28.06 and its two-hundred day simple moving average is $26.81. The stock has a market capitalization of $1.23 billion, a P/E ratio of 10.04 and a beta of 0.86. Byline Bancorp has a one year low of $22.63 and a one year high of $32.89.

Byline Bancorp (NYSE:BY - Get Free Report) last released its quarterly earnings data on Monday, June 6th. The company reported $0.57 earnings per share for the quarter. Byline Bancorp had a net margin of 19.03% and a return on equity of 10.98%. The business had revenue of $72.38 million for the quarter. On average, research analysts forecast that Byline Bancorp will post 2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "buy (b-)" rating on shares of Byline Bancorp in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.25.

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.

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