Zacks Investment Research lowered shares of Byline Bancorp (NYSE:BY) from a hold rating to a sell rating in a research note published on Tuesday, 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. “

Shares of BY stock opened at $19.27 on Tuesday. The company has a fifty day moving average price of $18.97. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market cap of $732.45 million, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.20 and a beta of 1.00. Byline Bancorp has a fifty-two week low of $15.39 and a fifty-two week high of $24.20.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $62.07 million for the quarter, compared to analyst estimates of $61.70 million. Byline Bancorp had a return on equity of 8.97% and a net margin of 16.67%. As a group, equities research analysts predict that Byline Bancorp will post 1.59 earnings per share for the current year.

In other news, Director William G. Kistner bought 2,450 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was bought at an average cost of $20.03 per share, with a total value of $49,073.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary Jo S. Herseth bought 2,250 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was purchased at an average cost of $19.96 per share, with a total value of $44,910.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 4,750 shares of company stock worth $94,969 and have sold 16,799 shares worth $335,170. 39.21% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BY. Mendon Capital Advisors Corp grew its position in Byline Bancorp by 35.7% in the 4th quarter. Mendon Capital Advisors Corp now owns 859,365 shares of the company’s stock valued at $14,317,000 after acquiring an additional 225,898 shares in the last quarter. Jennison Associates LLC grew its position in Byline Bancorp by 9.4% in the 1st quarter. Jennison Associates LLC now owns 1,819,407 shares of the company’s stock valued at $33,623,000 after acquiring an additional 156,259 shares in the last quarter. Millennium Management LLC grew its position in Byline Bancorp by 206.2% in the 4th quarter. Millennium Management LLC now owns 96,392 shares of the company’s stock valued at $1,606,000 after acquiring an additional 64,912 shares in the last quarter. Martingale Asset Management L P acquired a new position in Byline Bancorp in the 4th quarter valued at about $857,000. Finally, IndexIQ Advisors LLC acquired a new position in Byline Bancorp in the 1st quarter valued at about $657,000. 29.40% of the stock is owned by institutional investors.

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.

Recommended Story: Equal Weight Rating

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.