Byline Bancorp’s (BY) “Hold” Rating Reaffirmed at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reiterated their hold rating on shares of Byline Bancorp, Inc. (NYSE:BY) in a research note issued to investors on Tuesday morning. Keefe, Bruyette & Woods currently has a $22.00 price objective on the stock.
Several other brokerages have also commented on BY. Piper Jaffray Companies started coverage on shares of Byline Bancorp in a research note on Tuesday, July 25th. They set an overweight rating and a $25.00 price target on the stock. Bank of America Corporation assumed coverage on shares of Byline Bancorp in a research note on Tuesday, July 25th. They issued a buy rating and a $25.00 price objective for the company. Stephens started coverage on shares of Byline Bancorp in a research note on Wednesday, July 26th. They issued an equal weight rating for the company. Zacks Investment Research upgraded shares of Byline Bancorp from a hold rating to a buy rating and set a $24.00 price objective for the company in a report on Tuesday, September 26th. Finally, FIG Partners assumed coverage on shares of Byline Bancorp in a report on Tuesday. They issued a market perform rating and a $22.50 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $23.70.
Shares of Byline Bancorp (NYSE:BY) traded down 0.96% during midday trading on Tuesday, hitting $20.55. The company had a trading volume of 30,261 shares. The firm’s market cap is $602.22 million. Byline Bancorp has a one year low of $19.29 and a one year high of $21.70. The company’s 50 day moving average is $21.02 and its 200 day moving average is $20.80.
Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, July 27th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.39). The business had revenue of $43.00 million for the quarter. Equities analysts forecast that Byline Bancorp will post $0.94 earnings per share for the current fiscal year.
In other news, CFO Lindsay Y. Corby bought 4,000 shares of the stock in a transaction that occurred on Thursday, July 6th. The shares were acquired at an average cost of $19.00 per share, for a total transaction of $76,000.00. Following the purchase, the chief financial officer now owns 9,271 shares of the company’s stock, valued at approximately $176,149. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roberto R. Herencia bought 34,807 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was purchased at an average price of $18.03 per share, for a total transaction of $627,570.21. Following the completion of the purchase, the director now directly owns 81,435 shares in the company, valued at approximately $1,468,273.05. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 42,057 shares of company stock valued at $765,320.
Institutional investors and hedge funds have recently made changes to their positions in the stock. LMR Partners LLP acquired a new position in Byline Bancorp during the 2nd quarter worth $1,023,000. Blair William & Co. IL bought a new stake in Byline Bancorp during the second quarter valued at about $401,000. Jennison Associates LLC bought a new stake in Byline Bancorp during the second quarter valued at about $11,352,000. Kennedy Capital Management Inc. bought a new stake in Byline Bancorp during the second quarter valued at about $3,022,000. Finally, Laurion Capital Management LP bought a new stake in Byline Bancorp during the second quarter valued at about $401,000. Hedge funds and other institutional investors own 20.06% 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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