Zacks Investment Research Lowers Byline Bancorp, Inc. (BY) to Strong Sell

Zacks Investment Research downgraded shares of Byline Bancorp, Inc. (NYSE:BY) from a hold rating to a strong sell rating in a research note released on Monday morning.

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. “

BY has been the topic of several other research reports. Keefe, Bruyette & Woods reissued a hold rating and issued a $22.00 price target on shares of Byline Bancorp in a report on Tuesday, October 3rd. Piper Jaffray Companies began coverage on shares of Byline Bancorp in a report on Tuesday, July 25th. They issued an overweight rating and a $25.00 price target on the stock. Stephens began coverage on shares of Byline Bancorp in a report on Wednesday, July 26th. They issued an equal weight rating on the stock. Bank of America Corporation began coverage on shares of Byline Bancorp in a report on Tuesday, July 25th. They issued a buy rating and a $25.00 price target on the stock. Finally, FIG Partners assumed coverage on shares of Byline Bancorp in a report on Tuesday, October 3rd. They issued a market perform rating and a $22.50 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $23.50.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Stifel Financial Corp acquired a new position in Byline Bancorp during the 2nd quarter worth about $3,546,000. Jennison Associates LLC acquired a new position in Byline Bancorp during the 2nd quarter worth about $11,352,000. LMR Partners LLP acquired a new position in Byline Bancorp during the 2nd quarter worth about $1,023,000. Tudor Investment Corp ET AL acquired a new position in Byline Bancorp during the 2nd quarter worth about $1,003,000. Finally, Kennedy Capital Management Inc. acquired a new position in Byline Bancorp during the 2nd quarter worth about $3,022,000. Institutional investors and hedge funds own 20.08% of the company’s stock.

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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Analyst Recommendations for Byline Bancorp (NYSE:BY)

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