Byline Bancorp (NYSE:BY) Receives Market Perform Rating from Raymond James Financial

Byline Bancorp (NYSE:BY)‘s stock had its “market perform” rating reissued by research analysts at Raymond James Financial in a research report issued to clients and investors on Wednesday,Benzinga reports.

A number of other brokerages have also commented on BY. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. Zacks Research raised Byline Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 23rd. Finally, Piper Sandler lifted their price target on shares of Byline Bancorp from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Byline Bancorp Stock Down 1.0%

NYSE:BY opened at $37.01 on Wednesday. Byline Bancorp has a twelve month low of $25.38 and a twelve month high of $38.83. The company has a fifty day moving average of $34.31 and a 200-day moving average of $32.49. The firm has a market capitalization of $1.68 billion, a P/E ratio of 12.06 and a beta of 0.72.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Byline Bancorp had a net margin of 21.86% and a return on equity of 11.56%. The business had revenue of $112.40 million during the quarter, compared to analysts’ expectations of $113.89 million. On average, analysts anticipate that Byline Bancorp will post 3.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Byline Bancorp

Large investors have recently bought and sold shares of the stock. Clearstead Advisors LLC grew its stake in shares of Byline Bancorp by 83.1% in the 4th quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock worth $46,000 after acquiring an additional 716 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Byline Bancorp by 15.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after purchasing an additional 313 shares in the last quarter. Royal Bank of Canada boosted its holdings in Byline Bancorp by 58.3% during the first quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock worth $73,000 after purchasing an additional 859 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Byline Bancorp by 1,572.5% during the third quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock worth $79,000 after purchasing an additional 2,689 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in Byline Bancorp by 16.1% in the 4th quarter. New York State Teachers Retirement System now owns 2,864 shares of the company’s stock worth $83,000 after purchasing an additional 398 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

About Byline Bancorp

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.