Byline Bancorp, Inc. (BY) Given Average Recommendation of “Buy” by Brokerages

Byline Bancorp, Inc. (NYSE:BY) has received an average broker rating score of 1.67 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company.

Brokerages have set a 1 year consensus target price of $24.00 for the company, according to Zacks. Zacks has also given Byline Bancorp an industry rank of 60 out of 265 based on the ratings given to its competitors.

BY has been the subject of several recent analyst reports. Bank of America Corporation initiated coverage on Byline Bancorp in a research note on Tuesday, July 25th. They set a “buy” rating and a $25.00 target price for the company. Stephens initiated coverage on Byline Bancorp in a research note on Wednesday, July 26th. They set an “equal weight” rating for the company. Keefe, Bruyette & Woods initiated coverage on Byline Bancorp in a research note on Tuesday, July 25th. They set a “market perform” rating and a $22.00 target price for the company. Finally, Piper Jaffray Companies initiated coverage on Byline Bancorp in a research note on Tuesday, July 25th. They set an “overweight” rating and a $25.00 target price for the company.

In other news, CFO Lindsay Y. Corby acquired 4,000 shares of Byline Bancorp stock in a transaction on Thursday, July 6th. The stock was bought at an average price of $19.00 per share, for a total transaction of $76,000.00. Following the transaction, the chief financial officer now owns 9,271 shares of the company’s stock, valued at $176,149. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Thomas J. Bell III acquired 3,000 shares of Byline Bancorp stock in a transaction on Thursday, July 6th. The stock was purchased at an average price of $19.00 per share, with a total value of $57,000.00. Following the transaction, the senior vice president now directly owns 5,905 shares in the company, valued at approximately $112,195. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 42,057 shares of company stock valued at $765,320.

Several hedge funds have recently made changes to their positions in the business. Jennison Associates LLC bought a new stake in shares of Byline Bancorp in the 2nd quarter worth approximately $11,352,000. Lord Abbett & CO. LLC bought a new stake in shares of Byline Bancorp in the 2nd quarter worth approximately $8,980,000. Banc Funds Co. LLC bought a new stake in shares of Byline Bancorp in the 2nd quarter worth approximately $8,622,000. Castine Capital Management LLC bought a new stake in shares of Byline Bancorp in the 2nd quarter worth approximately $4,466,000. Finally, Stifel Financial Corp bought a new stake in shares of Byline Bancorp in the 2nd quarter worth approximately $3,546,000. Institutional investors own 20.06% of the company’s stock.

Shares of Byline Bancorp (NYSE:BY) opened at 21.25 on Monday. Byline Bancorp has a 12-month low of $19.29 and a 12-month high of $21.70. The firm’s 50-day moving average price is $20.78 and its 200 day moving average price is $20.71. The stock’s market capitalization is $622.73 million.

Byline Bancorp (NYSE:BY) last announced its earnings results on Thursday, July 27th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.39. The company had revenue of $43 million during the quarter. Analysts predict that Byline Bancorp will post $0.94 EPS for the current fiscal year.

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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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