Byline Bancorp (NYSE:BY) Raised to “Strong-Buy” at Zacks Research

Byline Bancorp (NYSE:BY) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods increased their price objective on shares of Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Raymond James Financial reaffirmed a “market perform” rating on shares of Byline Bancorp in a research note on Friday, October 23rd. Stephens upped their price target on shares of Byline Bancorp from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a report on Friday, August 7th. Finally, Piper Sandler increased their price target on Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.50.

Byline Bancorp Trading Down 0.1%

Shares of NYSE BY opened at $38.66 on Tuesday. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 11.27 and a beta of 0.73. Byline Bancorp has a 12 month low of $26.39 and a 12 month high of $40.03. The stock has a 50-day moving average price of $37.71 and a two-hundred day moving average price of $34.89.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.12. The company had revenue of $121.01 million for the quarter, compared to the consensus estimate of $116.88 million. Byline Bancorp had a net margin of 24.06% and a return on equity of 12.04%. On average, sell-side analysts predict that Byline Bancorp will post 3.42 earnings per share for the current year.

Insider Buying and Selling at Byline Bancorp

In other Byline Bancorp news, CEO Roberto R. Herencia sold 19,750 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $39.21, for a total value of $774,397.50. Following the completion of the transaction, the chief executive officer directly owned 411,643 shares in the company, valued at approximately $16,140,522.03. This represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dana Rose sold 2,421 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $39.00, for a total transaction of $94,419.00. Following the transaction, the insider directly owned 11,605 shares of the company’s stock, valued at $452,595. The trade was a 17.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 1,560 shares of company stock worth $60,138 and sold 622,171 shares worth $24,328,816. 29.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Byline Bancorp

Hedge funds have recently modified their holdings of the business. Allworth Financial LP lifted its stake in shares of Byline Bancorp by 43.6% in the second quarter. Allworth Financial LP now owns 1,617 shares of the company’s stock worth $61,000 after acquiring an additional 491 shares during the period. Royal Bank of Canada increased its position in Byline Bancorp by 58.3% during the 1st quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock valued at $73,000 after purchasing an additional 859 shares during the period. First Trust Advisors LP increased its position in Byline Bancorp by 2.1% during the 1st quarter. First Trust Advisors LP now owns 86,509 shares of the company’s stock valued at $2,731,000 after purchasing an additional 1,779 shares during the period. Nisa Investment Advisors LLC increased its position in Byline Bancorp by 72.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,422 shares of the company’s stock valued at $163,000 after purchasing an additional 1,863 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its holdings in Byline Bancorp by 11.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 28,053 shares of the company’s stock worth $1,056,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

About Byline Bancorp

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The company focuses on serving small and mid-sized businesses, entrepreneurs, commercial real estate investors and consumers through a relationship-based banking model.

Byline Bank offers commercial and industrial lending, commercial real estate financing, small business and SBA loans, business checking and savings accounts, treasury management, and other cash-management services.