Byline Bancorp (BY) Earns Overweight Rating from Analysts at Piper Jaffray Companies

Investment analysts at Piper Jaffray Companies started coverage on shares of Byline Bancorp (NYSE:BY) in a research note issued to investors on Tuesday, July 25th, MarketBeat reports. The firm set an “overweight” rating and a $25.00 price target on the stock. Piper Jaffray Companies’ target price suggests a potential upside of 20.54% from the company’s previous close.

Shares of Byline Bancorp (NYSE:BY) traded up 0.34% during mid-day trading on Tuesday, reaching $20.74. The company had a trading volume of 26,289 shares. The stock’s market capitalization is $588.85 million. Byline Bancorp has a one year low of $19.29 and a one year high of $21.49. The firm has a 50 day moving average of $20.57 and a 200-day moving average of $20.57.

Byline Bancorp (NYSE:BY) last announced its earnings results on Thursday, July 27th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by $0.39. The business had revenue of $43 million during the quarter. Analysts forecast that Byline Bancorp will post $0.94 EPS for the current fiscal year.

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In related news, SVP Thomas J. Bell III acquired 3,000 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was bought at an average price of $19.00 per share, for a total transaction of $57,000.00. Following the completion of the purchase, the senior vice president now directly owns 5,905 shares of the company’s stock, valued at approximately $112,195. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Roberto R. Herencia acquired 34,807 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was bought at an average price of $18.03 per share, with a total value of $627,570.21. Following the purchase, the director now directly owns 81,435 shares of the company’s stock, valued at $1,468,273.05. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 42,057 shares of company stock valued at $765,320.

Large investors have recently made changes to their positions in the stock. Balyasny Asset Management LLC acquired a new stake in shares of Byline Bancorp during the second quarter worth approximately $341,000. Laurion Capital Management LP acquired a new stake in shares of Byline Bancorp during the second quarter worth approximately $401,000. Blair William & Co. IL acquired a new stake in shares of Byline Bancorp during the second quarter worth approximately $401,000. Goldman Sachs Group Inc. purchased a new position in Byline Bancorp during the second quarter valued at about $571,000. Finally, Tudor Investment Corp ET AL purchased a new position in Byline Bancorp during the second quarter valued at about $1,003,000. 2.77% of the stock is owned by institutional investors and hedge funds.

Byline Bancorp Company Profile

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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