Byline Bancorp (NYSE:BY) Stock Rating Upgraded by Zacks Investment Research

Byline Bancorp (NYSE:BY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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 research analysts have also recently issued reports on the stock. Piper Jaffray Companies dropped their target price on shares of Byline Bancorp from $23.50 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. ValuEngine upgraded shares of Byline Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $21.00.

BY stock traded down $0.15 on Monday, hitting $17.59. The company had a trading volume of 46,322 shares, compared to its average volume of 78,479. Byline Bancorp has a 12-month low of $15.39 and a 12-month high of $22.25. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.71. The stock’s 50-day simple moving average is $17.70 and its 200 day simple moving average is $18.57. The stock has a market cap of $661.29 million, a price-to-earnings ratio of 14.91, a P/E/G ratio of 1.09 and a beta of 1.06.

Byline Bancorp (NYSE:BY) last issued 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. Byline Bancorp had a net margin of 18.92% and a return on equity of 9.44%. The company had revenue of $68.63 million for the quarter, compared to analysts’ expectations of $66.85 million. Research analysts forecast that Byline Bancorp will post 1.6 earnings per share for the current year.

In other news, insider Brogan Ptacin sold 5,500 shares of Byline Bancorp stock in a transaction on Friday, August 16th. The shares were sold at an average price of $17.33, for a total transaction of $95,315.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 39.21% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Citadel Advisors LLC purchased a new position in shares of Byline Bancorp during the 2nd quarter worth $672,000. Bank of America Corp DE raised its position in shares of Byline Bancorp by 11.3% during the 2nd quarter. Bank of America Corp DE now owns 62,478 shares of the company’s stock valued at $1,194,000 after purchasing an additional 6,334 shares during the period. Vanguard Group Inc. raised its position in shares of Byline Bancorp by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 926,237 shares of the company’s stock valued at $17,710,000 after purchasing an additional 34,411 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of Byline Bancorp during the 2nd quarter valued at $237,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Byline Bancorp by 174.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,825 shares of the company’s stock valued at $245,000 after purchasing an additional 8,156 shares during the period. Institutional investors and hedge funds own 32.18% of the company’s stock.

About Byline Bancorp

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.

Featured Article: Diversification Important in Investing

Get a free copy of the Zacks research report on Byline Bancorp (BY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Byline Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Byline Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.