Byline Bancorp (NYSE:BY) Lifted to “Hold” at Zacks Investment Research

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Byline Bancorp (NYSE:BY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday, Zacks.com reports.

According to Zacks, “Byline Bancorp, Inc. operates as a bank holding company serving small- and medium-sized businesses, financial sponsors and consumers. The Company offers saving accounts, credit cards, loans, mortgages, lending, equipment leasing, cash management and online banking services. Byline Bancorp, Inc. is headquartered in Chicago, Illinois. “

Several other equities analysts have also issued reports on BY. ValuEngine upgraded Byline Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Piper Jaffray Companies decreased their target price on Byline Bancorp from $23.50 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $21.00.

Byline Bancorp stock opened at $17.90 on Monday. The firm has a market capitalization of $676.15 million, a P/E ratio of 15.17, a PEG ratio of 1.11 and a beta of 1.06. Byline Bancorp has a 1 year low of $15.39 and a 1 year high of $22.25. The business has a 50-day moving average of $17.77 and a 200-day moving average of $18.56. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.71.

Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, July 25th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The company had revenue of $68.63 million during the quarter, compared to analyst estimates of $66.85 million. Byline Bancorp had a return on equity of 9.44% and a net margin of 18.92%. Research analysts anticipate that Byline Bancorp will post 1.6 EPS for the current fiscal year.

In related news, insider Brogan Ptacin sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $17.33, for a total value of $95,315.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 39.21% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Context BH Capital Management LP grew its position in shares of Byline Bancorp by 1.9% in the 2nd quarter. Context BH Capital Management LP now owns 31,987 shares of the company’s stock valued at $612,000 after purchasing an additional 600 shares during the period. First Trust Advisors LP lifted its stake in Byline Bancorp by 3.9% in the 2nd quarter. First Trust Advisors LP now owns 29,598 shares of the company’s stock valued at $566,000 after acquiring an additional 1,110 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Byline Bancorp by 57.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,293 shares of the company’s stock valued at $63,000 after acquiring an additional 1,199 shares in the last quarter. Bank of Montreal Can lifted its stake in Byline Bancorp by 23.8% in the 2nd quarter. Bank of Montreal Can now owns 10,156 shares of the company’s stock valued at $194,000 after acquiring an additional 1,954 shares in the last quarter. Finally, Strs Ohio lifted its stake in Byline Bancorp by 7.3% in the 2nd quarter. Strs Ohio now owns 33,600 shares of the company’s stock valued at $642,000 after acquiring an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 32.18% of the company’s stock.

Byline Bancorp Company Profile

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides a range of banking products and services to small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers non-interest bearing accounts, money market demand accounts, savings accounts, interest bearing checking accounts, and time deposits, as well as certificates of deposit.

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