Byline Bancorp (BY) Stock Rating Upgraded by Zacks Investment Research
Byline Bancorp (NYSE:BY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
Other equities analysts have also recently issued reports about the stock. Piper Jaffray Companies restated a “buy” rating and set a $25.00 price target on shares of Byline Bancorp in a report on Friday, October 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $21.00 price objective on shares of Byline Bancorp in a report on Wednesday, November 1st. Finally, FIG Partners started coverage on shares of Byline Bancorp in a report on Tuesday, October 3rd. They issued a “market perform” rating and a $22.50 price objective for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Byline Bancorp presently has an average rating of “Buy” and an average target price of $23.70.
A number of hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System bought a new stake in Byline Bancorp during the third quarter valued at about $227,000. Bank of New York Mellon Corp bought a new stake in Byline Bancorp during the third quarter valued at about $313,000. Balyasny Asset Management LLC bought a new stake in Byline Bancorp during the second quarter valued at about $341,000. Laurion Capital Management LP bought a new stake in Byline Bancorp during the second quarter valued at about $401,000. Finally, Blair William & Co. IL bought a new stake in Byline Bancorp during the second quarter valued at about $401,000. Institutional investors own 22.84% of the company’s stock.
About Byline Bancorp
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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