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

Zacks Investment Research upgraded shares of Byline Bancorp (NYSE:BY) from a sell rating to a hold rating in a report issued on Tuesday morning.

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. “

A number of other research analysts also recently issued reports on BY. Keefe, Bruyette & Woods upgraded Byline Bancorp from a market perform rating to an outperform rating and set a $22.00 price objective for the company in a research note on Wednesday, November 29th. FIG Partners assumed coverage on Byline Bancorp in a research note on Tuesday, October 3rd. They set a market perform rating and a $22.50 price objective for the company. Finally, Piper Jaffray Companies reiterated a buy rating and set a $25.00 price objective on shares of Byline Bancorp in a research note on Friday, October 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Byline Bancorp presently has a consensus rating of Buy and a consensus target price of $23.70.

Shares of Byline Bancorp (BY) traded down $0.14 during trading hours on Tuesday, hitting $21.99. The company had a trading volume of 42,587 shares, compared to its average volume of 77,201. 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 52 week low of $19.02 and a 52 week high of $23.65.

Large investors have recently made changes to their positions in the stock. California State Teachers Retirement System bought a new position in shares of Byline Bancorp during the 3rd quarter valued at approximately $227,000. Bank of New York Mellon Corp bought a new position in shares of Byline Bancorp during the 3rd quarter valued at approximately $313,000. Balyasny Asset Management LLC bought a new position in shares of Byline Bancorp during the 2nd quarter valued at approximately $341,000. Blair William & Co. IL bought a new position in shares of Byline Bancorp during the 2nd quarter valued at approximately $401,000. Finally, Laurion Capital Management LP bought a new position in shares of Byline Bancorp during the 2nd quarter valued at approximately $401,000. Institutional investors own 22.84% of the company’s stock.

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Byline Bancorp Company Profile

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.

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Analyst Recommendations for Byline Bancorp (NYSE:BY)

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