Byline Bancorp (BY) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Byline Bancorp (NYSE:BY) from a hold rating to a buy rating in a report published on Friday morning. Zacks Investment Research currently has $25.00 target price on the stock.
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. “
A number of other equities analysts also recently issued reports on BY. Keefe, Bruyette & Woods restated a hold rating and set a $22.00 price objective on shares of Byline Bancorp in a research report on Tuesday, October 3rd. FIG Partners initiated coverage on Byline Bancorp in a research report on Tuesday, October 3rd. They set a market perform rating and a $22.50 price objective for the company. Finally, Piper Jaffray Companies restated a buy rating and set a $25.00 price objective on shares of Byline Bancorp in a research report on Friday, October 6th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $24.90.
Byline Bancorp (NYSE:BY) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.10. equities analysts predict that Byline Bancorp will post 0.79 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of BY. California State Teachers Retirement System bought a new stake in Byline Bancorp in the third quarter worth approximately $227,000. Bank of New York Mellon Corp bought a new stake in Byline Bancorp in the third quarter worth approximately $313,000. Balyasny Asset Management LLC bought a new stake in Byline Bancorp in the second quarter worth approximately $341,000. Laurion Capital Management LP bought a new stake in Byline Bancorp in the second quarter worth approximately $401,000. Finally, Sei Investments Co. bought a new stake in Byline Bancorp in the third quarter worth approximately $478,000. Institutional investors own 22.84% of the company’s stock.
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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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