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

Last updated on Wednesday, July 1st, 2020 by MarketBeat

Byline Bancorp (NYSE:BY) was downgraded by Zacks Investment Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Wednesday, 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. "

Several other brokerages have also commented on BY. TheStreet upgraded Byline Bancorp from a "d" rating to a "c" rating in a research report on Monday. Stephens reiterated a "buy" rating and set a $17.00 price objective on shares of Byline Bancorp in a research report on Monday, March 23rd. Finally, ValuEngine upgraded Byline Bancorp from a "sell" rating to a "hold" rating in a research report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company's stock. The company currently has a consensus rating of "Hold" and an average price target of $19.50.

BY traded up $0.29 during trading on Wednesday, reaching $13.10. 89,000 shares of the company were exchanged, compared to its average volume of 119,667. The company's 50-day moving average is $12.00 and its two-hundred day moving average is $14.82. The company has a market cap of $491.69 million, a price-to-earnings ratio of 10.83, a P/E/G ratio of 1.62 and a beta of 1.55. Byline Bancorp has a 12-month low of $8.13 and a 12-month high of $20.73.

Byline Bancorp (NYSE:BY) last announced its earnings results on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.18). The business had revenue of $62.00 million during the quarter, compared to the consensus estimate of $64.53 million. Byline Bancorp had a return on equity of 7.06% and a net margin of 14.82%. Equities analysts predict that Byline Bancorp will post 0.79 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Holdings Inc. bought a new position in Byline Bancorp during the 1st quarter valued at approximately $33,000. Invesco Ltd. increased its position in Byline Bancorp by 82.0% during the 1st quarter. Invesco Ltd. now owns 32,302 shares of the company's stock valued at $335,000 after buying an additional 14,557 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of Byline Bancorp by 41.8% in the 1st quarter. Two Sigma Investments LP now owns 22,376 shares of the company's stock worth $232,000 after purchasing an additional 6,592 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Byline Bancorp by 72.6% in the 1st quarter. Two Sigma Advisers LP now owns 47,300 shares of the company's stock worth $491,000 after purchasing an additional 19,900 shares in the last quarter. Finally, Aristotle Capital Boston LLC increased its holdings in shares of Byline Bancorp by 2.4% in the 1st quarter. Aristotle Capital Boston LLC now owns 1,166,839 shares of the company's stock worth $12,100,000 after purchasing an additional 27,335 shares in the last quarter. Institutional investors and hedge funds own 40.91% 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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