Zacks Investment Research upgraded shares of Byline Bancorp (NYSE:BY) from a hold rating to a buy rating in a research report report published on Wednesday. Zacks Investment Research currently has $24.00 price target on the stock.
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. “
Separately, ValuEngine upgraded Byline Bancorp from a hold rating to a buy rating in a research note on Monday, September 17th.
Byline Bancorp (NYSE:BY) last issued its earnings results on Friday, October 26th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.06. The company had revenue of $63.74 million during the quarter, compared to analyst estimates of $62.82 million. Byline Bancorp had a return on equity of 7.75% and a net margin of 10.15%. As a group, equities research analysts expect that Byline Bancorp will post 1.32 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of Byline Bancorp by 668.7% during the 1st quarter. Barclays PLC now owns 8,079 shares of the company’s stock valued at $185,000 after buying an additional 7,028 shares during the last quarter. Granite Investment Partners LLC purchased a new position in shares of Byline Bancorp during the 2nd quarter valued at about $226,000. New York State Common Retirement Fund raised its stake in shares of Byline Bancorp by 89.7% during the 1st quarter. New York State Common Retirement Fund now owns 11,000 shares of the company’s stock valued at $252,000 after buying an additional 5,200 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Byline Bancorp by 27.0% during the 1st quarter. Wells Fargo & Company MN now owns 11,843 shares of the company’s stock valued at $272,000 after buying an additional 2,515 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Byline Bancorp by 10,325.9% during the 3rd quarter. Bank of Montreal Can now owns 12,094 shares of the company’s stock valued at $275,000 after buying an additional 11,978 shares during the last quarter. Institutional investors and hedge funds own 26.36% of the company’s stock.
Byline Bancorp Company Profile
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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