Byline Bancorp (NYSE:BY) Stock Rating Upgraded by Zacks Research

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

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

Byline Bancorp Stock Up 1.5%

Shares of BY opened at $36.53 on Tuesday. The business has a 50-day simple moving average of $33.55 and a two-hundred day simple moving average of $32.03. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 11.90 and a beta of 0.75. Byline Bancorp has a 52 week low of $25.38 and a 52 week high of $36.59.

Byline Bancorp (NYSE:BY) last posted 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. The firm had revenue of $112.40 million for the quarter, compared to analysts’ expectations of $113.89 million. Byline Bancorp had a return on equity of 11.56% and a net margin of 21.86%. On average, equities analysts anticipate that Byline Bancorp will post 3.28 earnings per share for the current fiscal year.

Institutional Trading of Byline Bancorp

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in Byline Bancorp by 99.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock worth $30,000 after purchasing an additional 546 shares in the last quarter. Clearstead Advisors LLC boosted its stake in Byline Bancorp by 83.1% in the 4th quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock worth $46,000 after purchasing an additional 716 shares during the period. Parkside Financial Bank & Trust grew its holdings in Byline Bancorp by 15.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after buying an additional 313 shares in the last quarter. Royal Bank of Canada grew its holdings 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 buying an additional 859 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of 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 buying an additional 2,689 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.