Byline Bancorp, Inc. (BY) Now Covered by Analysts at FIG Partners
FIG Partners initiated coverage on shares of Byline Bancorp, Inc. (NYSE:BY) in a research report sent to investors on Tuesday morning. The brokerage issued a market perform rating and a $22.50 price target on the stock.
A number of other research firms have also recently issued reports on BY. Piper Jaffray Companies started coverage on Byline Bancorp in a report on Tuesday, July 25th. They set an overweight rating and a $25.00 target price for the company. Zacks Investment Research lowered Byline Bancorp from a buy rating to a hold rating in a report on Wednesday, September 27th. Stephens began coverage on Byline Bancorp in a report on Wednesday, July 26th. They issued an equal weight rating on the stock. Bank of America Corporation began coverage on Byline Bancorp in a research report on Tuesday, July 25th. They set a buy rating and a $25.00 price objective for the company. Finally, Keefe, Bruyette & Woods assumed coverage on Byline Bancorp in a research report on Tuesday, July 25th. They set a market perform rating and a $22.00 price objective for the company. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Byline Bancorp currently has an average rating of Hold and a consensus target price of $23.70.
Byline Bancorp (NYSE BY) traded down 1.20% during mid-day trading on Tuesday, reaching $20.50. 34,420 shares of the company’s stock traded hands. Byline Bancorp has a 1-year low of $19.29 and a 1-year high of $21.70. The firm has a 50-day moving average price of $21.02 and a 200-day moving average price of $20.80. The stock’s market cap is $600.75 million.
Byline Bancorp (NYSE:BY) last posted its quarterly earnings data on Thursday, July 27th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.39). The company had revenue of $43.00 million for the quarter. Equities research analysts anticipate that Byline Bancorp will post $0.94 EPS for the current fiscal year.
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In related news, Director Roberto R. Herencia purchased 34,807 shares of Byline Bancorp stock in a transaction that occurred on Thursday, July 6th. The stock was purchased at an average cost of $18.03 per share, with a total value of $627,570.21. Following the completion of the transaction, the director now owns 81,435 shares of the company’s stock, valued at approximately $1,468,273.05. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Thomas J. Bell III purchased 3,000 shares of Byline Bancorp stock in a transaction that occurred on Thursday, July 6th. The shares were bought at an average cost of $19.00 per share, with a total value of $57,000.00. Following the completion of the transaction, the senior vice president now directly owns 5,905 shares of the company’s stock, valued at approximately $112,195. The disclosure for this purchase can be found here. Insiders bought 42,057 shares of company stock worth $765,320 over the last quarter.
A number of hedge funds have recently bought and sold shares of the business. Jennison Associates LLC acquired a new position in shares of Byline Bancorp during the 2nd quarter worth approximately $11,352,000. LMR Partners LLP bought a new stake in shares of Byline Bancorp during the 2nd quarter worth approximately $1,023,000. Kennedy Capital Management Inc. bought a new stake in shares of Byline Bancorp during the 2nd quarter worth approximately $3,022,000. Castine Capital Management LLC bought a new stake in shares of Byline Bancorp during the 2nd quarter worth approximately $4,466,000. Finally, Penn Capital Management Co. Inc. bought a new stake in shares of Byline Bancorp during the 2nd quarter worth approximately $1,201,000. Hedge funds and other institutional investors own 20.06% of the company’s stock.
About Byline Bancorp
Byline Bancorp, Inc is a bank holding company. The Company operates through its subsidiary, Byline Bank (the Bank). Byline Bank is a full service commercial bank. The Bank operates through 56 branches in the Chicago metropolitan area. The Bank offers a broad range of banking products and services to small and medium sized businesses, commercial real estate and financial sponsors, and to consumers.
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