Zacks Investment Research Upgrades Byline Bancorp (BY) to “Hold”

Byline Bancorp (NYSE:BY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

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 analysts also recently commented on BY. Keefe, Bruyette & Woods raised Byline Bancorp from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Wednesday, November 29th. FIG Partners began coverage on Byline Bancorp in a research report on Tuesday, October 3rd. They issued a “market perform” rating and a $22.50 price objective on the stock. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Byline Bancorp in a research report on Friday, October 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $23.70.

Byline Bancorp (NYSE BY) opened at $22.68 on Tuesday. 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 12-month low of $19.02 and a 12-month high of $23.65.

Several hedge funds have recently modified their holdings of the business. California State Teachers Retirement System purchased a new stake in shares of Byline Bancorp in the 3rd quarter worth $227,000. Bank of New York Mellon Corp purchased a new stake in shares of Byline Bancorp during the 3rd quarter worth $313,000. Balyasny Asset Management LLC purchased a new stake in shares of Byline Bancorp during the 2nd quarter worth $341,000. Laurion Capital Management LP purchased a new stake in shares of Byline Bancorp during the 2nd quarter worth $401,000. Finally, Blair William & Co. IL purchased a new stake in shares of Byline Bancorp during the 2nd quarter worth $401,000. Institutional investors and hedge funds 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.

Analyst Recommendations for Byline Bancorp (NYSE:BY)

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