Byline Bancorp (NYSE:BY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $24.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 9.44% from the company’s previous close.
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. “
Separately, ValuEngine cut shares of Byline Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd.
Shares of NYSE:BY opened at $21.93 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.69. Byline Bancorp has a one year low of $18.85 and a one year high of $24.80. The stock has a market cap of $782.33 million, a price-to-earnings ratio of 42.17, a price-to-earnings-growth ratio of 1.64 and a beta of -0.19.
Byline Bancorp (NYSE:BY) last issued its quarterly earnings results on Friday, October 26th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. Byline Bancorp had a net margin of 10.15% and a return on equity of 7.75%. The firm had revenue of $63.74 million for the quarter, compared to analysts’ expectations of $62.82 million. As a group, equities analysts forecast that Byline Bancorp will post 1.32 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in BY. BlackRock Inc. increased its stake in shares of Byline Bancorp by 146.5% during the 1st quarter. BlackRock Inc. now owns 749,048 shares of the company’s stock worth $17,175,000 after purchasing an additional 445,172 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Byline Bancorp by 14.2% during the 2nd quarter. Jennison Associates LLC now owns 1,396,190 shares of the company’s stock worth $31,191,000 after purchasing an additional 173,074 shares during the last quarter. Signet Financial Management LLC acquired a new position in shares of Byline Bancorp during the 2nd quarter worth about $3,097,000. Northern Trust Corp increased its stake in shares of Byline Bancorp by 112.6% during the 1st quarter. Northern Trust Corp now owns 149,062 shares of the company’s stock worth $3,418,000 after purchasing an additional 78,935 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in shares of Byline Bancorp during the 2nd quarter worth about $1,117,000. Institutional investors own 26.36% of the company’s stock.
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.
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