In recent trading sessions, shares of Byline Bancorp Inc (Symbol: BY) have exceeded the average analyst 12-month target price of $30.70, currently priced at $30.87. When a stock hits an analyst’s forecast, the analyst typically faces two choices: either downgrade the stock due to valuation concerns or adjust the target price upwards. The decision often hinges on the company’s business performance—if positive developments arise, raising the target price may be warranted.
Within the Zacks coverage universe, five analysts have contributed to the average target for Byline Bancorp Inc. However, this average represents a composite of differing perspectives. Some analysts hold lower expectations, with one projecting a target of $27.50, while others are more optimistic, predicting a high of $34.00. The standard deviation among these target prices is $2.729.
The significance of the average target price rests in its ability to reflect a “wisdom of crowds” approach. It combines insights from multiple analysts rather than relying on a single viewpoint. With BY’s recent rise above the $30.70 target, investors can reassess the situation. They must consider whether this level is merely a stepping stone towards higher targets or whether the current valuation is too high, prompting a reevaluation of their investments. Below is a table detailing the current analyst ratings for Byline Bancorp Inc:
| Recent BY Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 3 | 3 | 3 | 3 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 3 | 3 | 3 | 3 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 2.0 | 2.0 | 2.0 | 2.0 |
The average rating in the table ranges from 1 to 5, where 1 indicates a Strong Buy and 5 indicates a Strong Sell. Data for this article was sourced from Zacks Investment Research via Quandl.com. For updated insights, you can access the latest Zacks research report on BY—at no cost.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
