Zacks Investment Research Lowers Byline Bancorp (NYSE:BY) to Sell

Zacks Investment Research lowered shares of Byline Bancorp (NYSE:BY) from a hold rating to a sell rating in a report issued on Tuesday morning, Zacks.com reports.

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. “

BY stock opened at $19.09 on Tuesday. The stock’s fifty day simple moving average is $18.96. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $723.41 million, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. Byline Bancorp has a 52-week low of $15.39 and a 52-week high of $24.20.

Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, April 25th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $62.07 million during the quarter, compared to analysts’ expectations of $61.70 million. Byline Bancorp had a return on equity of 8.97% and a net margin of 16.67%. As a group, analysts predict that Byline Bancorp will post 1.6 EPS for the current fiscal year.

In other news, Director Mary Jo S. Herseth purchased 2,250 shares of the stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average cost of $19.96 per share, for a total transaction of $44,910.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Kistner purchased 2,450 shares of the stock in a transaction dated Tuesday, April 30th. The shares were purchased at an average price of $20.03 per share, with a total value of $49,073.50. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 4,750 shares of company stock valued at $94,969 and have sold 16,799 shares valued at $335,170. 39.21% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in shares of Byline Bancorp by 22.5% during the fourth quarter. Legal & General Group Plc now owns 2,972 shares of the company’s stock worth $49,000 after buying an additional 546 shares during the period. Context BH Capital Management LP boosted its holdings in Byline Bancorp by 6.5% in the first quarter. Context BH Capital Management LP now owns 31,387 shares of the company’s stock valued at $580,000 after purchasing an additional 1,907 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Byline Bancorp in the first quarter valued at $39,000. BNP Paribas Arbitrage SA boosted its holdings in Byline Bancorp by 437.9% in the first quarter. BNP Paribas Arbitrage SA now owns 3,394 shares of the company’s stock valued at $63,000 after purchasing an additional 2,763 shares during the period. Finally, Advisor Group Inc. boosted its holdings in Byline Bancorp by 6,390.0% in the fourth quarter. Advisor Group Inc. now owns 3,245 shares of the company’s stock valued at $54,000 after purchasing an additional 3,195 shares during the period. Institutional investors and hedge funds own 29.40% of the company’s stock.

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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