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

Byline Bancorp (NYSE:BY) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Piper Sandler increased their target price on Byline Bancorp from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Raymond James Financial assumed coverage on shares of Byline Bancorp in a research report on Wednesday, July 8th. They set a “market perform” rating for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.00.

Byline Bancorp Stock Down 0.3%

Shares of NYSE BY opened at $37.62 on Wednesday. The firm’s 50-day moving average price is $35.47 and its two-hundred day moving average price is $33.16. Byline Bancorp has a 52-week low of $25.38 and a 52-week high of $38.88. The stock has a market capitalization of $1.71 billion, a P/E ratio of 12.26 and a beta of 0.72.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.12. The business had revenue of $117.71 million for the quarter, compared to analysts’ expectations of $115.78 million. Byline Bancorp had a return on equity of 11.56% and a net margin of 21.86%. As a group, equities research analysts expect that Byline Bancorp will post 3.28 earnings per share for the current year.

Institutional Investors Weigh In On Byline Bancorp

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in Byline Bancorp by 34.4% in the 1st quarter. AQR Capital Management LLC now owns 137,998 shares of the company’s stock valued at $3,610,000 after buying an additional 35,324 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Byline Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company’s stock worth $484,000 after buying an additional 770 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Byline Bancorp by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company’s stock worth $1,995,000 after acquiring an additional 5,213 shares during the period. Jane Street Group LLC lifted its stake in shares of Byline Bancorp by 71.0% in the 1st quarter. Jane Street Group LLC now owns 152,478 shares of the company’s stock worth $3,989,000 after acquiring an additional 63,317 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Byline Bancorp by 2.5% in the second quarter. Legal & General Group Plc now owns 29,577 shares of the company’s stock valued at $791,000 after acquiring an additional 712 shares in the last quarter. Institutional investors and hedge funds 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.