Byline Bancorp (BY) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Byline Bancorp (NYSE:BY) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.
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 research firms have also recently issued reports on BY. FIG Partners began coverage on shares of Byline Bancorp in a research note on Tuesday, October 3rd. They issued a market perform rating and a $22.50 target price for the company. Keefe, Bruyette & Woods reiterated a hold rating and issued a $22.00 target price on shares of Byline Bancorp in a research note on Tuesday, October 3rd. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $25.00 target price on shares of Byline Bancorp in a research note on Friday, October 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Byline Bancorp presently has a consensus rating of Buy and an average price target of $23.70.
Byline Bancorp (BY) traded up $0.24 during midday trading on Tuesday, reaching $23.17. 106,400 shares of the company’s stock were exchanged, compared to its average volume of 70,176. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.52. Byline Bancorp has a 1 year low of $19.02 and a 1 year high of $23.65.
Several large investors have recently added to or reduced their stakes in BY. California State Teachers Retirement System bought a new position in shares of Byline Bancorp in the third quarter valued at approximately $227,000. Bank of New York Mellon Corp bought a new position in shares of Byline Bancorp in the third quarter valued at approximately $313,000. Balyasny Asset Management LLC bought a new position in shares of Byline Bancorp in the second quarter valued at approximately $341,000. Laurion Capital Management LP bought a new position in shares of Byline Bancorp in the second quarter valued at approximately $401,000. Finally, Blair William & Co. IL bought a new position in Byline Bancorp during the second quarter worth $401,000. 22.84% of the stock is currently owned by institutional investors.
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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