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

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Byline Bancorp (NYSE:BY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $21.00 price objective on the stock. Zacks Investment Research‘s target price points to a potential upside of 7.42% 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. “

A number of other equities research analysts have also recently commented on the company. Bank of America cut Byline Bancorp from a “buy” rating to a “neutral” rating and set a $20.00 target price on the stock. in a research note on Thursday, January 10th. TheStreet cut Byline Bancorp from a “c-” rating to a “d+” rating in a research note on Monday, December 24th. Finally, ValuEngine lowered Byline Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Byline Bancorp has an average rating of “Hold” and an average price target of $21.33.

NYSE BY opened at $19.55 on Tuesday. The firm has a market cap of $701.55 million, a PE ratio of 16.58, a price-to-earnings-growth ratio of 1.16 and a beta of 1.03. Byline Bancorp has a one year low of $15.39 and a one year high of $24.80. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.69.

Byline Bancorp (NYSE:BY) last released its earnings results on Thursday, January 24th. The company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.08. The company had revenue of $67.83 million for the quarter, compared to analysts’ expectations of $63.58 million. Byline Bancorp had a return on equity of 8.72% and a net margin of 15.93%. As a group, sell-side analysts forecast that Byline Bancorp will post 1.61 EPS for the current fiscal year.

In related news, EVP Donald J. Meyer sold 4,100 shares of Byline Bancorp stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $21.50, for a total value of $88,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roberto R. Herencia acquired 9,040 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The stock was purchased at an average cost of $19.29 per share, with a total value of $174,381.60. The disclosure for this purchase can be found here. In the last three months, insiders purchased 10,195 shares of company stock valued at $195,870. 45.13% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower View Investment Management & Research LLC purchased a new position in Byline Bancorp during the 4th quarter valued at about $53,000. Advisor Group Inc. grew its holdings in Byline Bancorp by 6,390.0% during the 4th quarter. Advisor Group Inc. now owns 3,245 shares of the company’s stock valued at $54,000 after buying an additional 3,195 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in Byline Bancorp during the 4th quarter valued at about $52,000. Bank of America Corp DE boosted its position in shares of Byline Bancorp by 5.0% during the 2nd quarter. Bank of America Corp DE now owns 72,360 shares of the company’s stock valued at $1,617,000 after acquiring an additional 3,414 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Byline Bancorp by 23.3% during the 3rd quarter. Wells Fargo & Company MN now owns 23,212 shares of the company’s stock valued at $527,000 after acquiring an additional 4,384 shares during the last quarter. 34.84% of the stock is owned by institutional investors.

About Byline Bancorp

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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