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

NYSE:BY traded up $0.07 on Tuesday, reaching $19.10. The company’s stock had a trading volume of 8,330 shares, compared to its average volume of 76,700. Byline Bancorp has a 1-year low of $15.39 and a 1-year high of $24.20. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market cap of $742.79 million, a price-to-earnings ratio of 16.14, a PEG ratio of 1.22 and a beta of 1.01. The stock’s 50-day moving average price is $18.96.

Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, April 25th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Byline Bancorp had a return on equity of 8.97% and a net margin of 16.67%. The firm had revenue of $62.07 million during the quarter, compared to analysts’ expectations of $61.70 million. As a group, equities research analysts forecast that Byline Bancorp will post 1.6 earnings per share for the current fiscal year.

In other news, Director Mary Jo S. Herseth acquired 2,250 shares of Byline Bancorp stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of $19.96 per share, with a total value of $44,910.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brogan Ptacin sold 5,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $19.92, for a total value of $109,560.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 4,750 shares of company stock valued at $94,969 and have sold 16,799 shares valued at $335,170. 39.21% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Jennison Associates LLC raised its holdings in Byline Bancorp by 9.4% during the first quarter. Jennison Associates LLC now owns 1,819,407 shares of the company’s stock worth $33,623,000 after acquiring an additional 156,259 shares in the last quarter. Mendon Capital Advisors Corp raised its holdings in Byline Bancorp by 35.7% during the fourth quarter. Mendon Capital Advisors Corp now owns 859,365 shares of the company’s stock worth $14,317,000 after acquiring an additional 225,898 shares in the last quarter. BlackRock Inc. raised its holdings in Byline Bancorp by 2.0% during the fourth quarter. BlackRock Inc. now owns 855,673 shares of the company’s stock worth $14,255,000 after acquiring an additional 16,721 shares in the last quarter. Geode Capital Management LLC raised its holdings in Byline Bancorp by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 172,240 shares of the company’s stock worth $2,869,000 after acquiring an additional 9,427 shares in the last quarter. Finally, Martingale Asset Management L P raised its holdings in Byline Bancorp by 99.7% during the first quarter. Martingale Asset Management L P now owns 102,643 shares of the company’s stock worth $1,898,000 after acquiring an additional 51,235 shares in the last quarter. 29.40% of the stock is owned by institutional investors.

About Byline Bancorp

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.

Read More: What are the Different Types of Leveraged Buyouts?

Get a free copy of the Zacks research report on Byline Bancorp (BY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Byline Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Byline Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.