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. “
Several other equities analysts have also recently weighed in on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and set a $25.00 price target on shares of Byline Bancorp in a research note on Friday, October 6th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $22.00 price objective on shares of Byline Bancorp in a report on Tuesday, October 3rd. Finally, FIG Partners initiated coverage on 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $23.70.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BY. Jennison Associates LLC acquired a new stake in shares of Byline Bancorp in the 2nd quarter valued at approximately $11,352,000. Lord Abbett & CO. LLC acquired a new stake in shares of Byline Bancorp in the 2nd quarter valued at approximately $8,980,000. Banc Funds Co. LLC acquired a new stake in shares of Byline Bancorp in the 2nd quarter valued at approximately $8,622,000. Castine Capital Management LLC acquired a new stake in shares of Byline Bancorp in the 2nd quarter valued at approximately $4,466,000. Finally, Stifel Financial Corp acquired a new stake in shares of Byline Bancorp in the 2nd quarter valued at approximately $3,546,000. 22.84% of the stock is owned by institutional investors.
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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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