Byline Bancorp (NYSE:BY) Stock Rating Upgraded by 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 note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a report on Wednesday, May 13th. Piper Sandler upped their price objective on Byline Bancorp from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $36.00.

Byline Bancorp Stock Up 1.5%

BY opened at $36.53 on Tuesday. The firm has a 50-day simple moving average of $33.55 and a two-hundred day simple moving average of $32.03. Byline Bancorp has a 52 week low of $25.38 and a 52 week high of $36.59. The company has a market capitalization of $1.66 billion, a PE ratio of 11.90 and a beta of 0.75.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Byline Bancorp had a return on equity of 11.56% and a net margin of 21.86%.The firm had revenue of $112.40 million during the quarter, compared to analyst estimates of $113.89 million. As a group, sell-side analysts expect that Byline Bancorp will post 3.28 earnings per share for the current year.

Institutional Trading of Byline Bancorp

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Byline Bancorp by 99.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock valued at $30,000 after acquiring an additional 546 shares during the last quarter. Clearstead Advisors LLC grew its position in Byline Bancorp by 83.1% in the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock worth $46,000 after acquiring an additional 716 shares in the last quarter. Royal Bank of Canada increased its stake in Byline Bancorp by 58.3% during the first quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock worth $73,000 after acquiring an additional 859 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Byline Bancorp by 15.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after purchasing an additional 313 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Byline Bancorp by 1,572.5% during the third quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock valued at $79,000 after purchasing an additional 2,689 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Byline Bancorp Company Profile

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.