Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Short Interest Up 7.6% in September

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 18,300 shares, a growth of 7.6% from the September 15th total of 17,000 shares. Based on an average trading volume of 26,700 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.4% of the shares of the company are short sold.

Evans Bancorp Stock Performance

Shares of EVBN opened at $40.75 on Thursday. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $41.12. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $225.35 million, a P/E ratio of 11.78 and a beta of 0.91.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its earnings results on Tuesday, July 30th. The bank reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.15. The business had revenue of $30.22 million for the quarter. Evans Bancorp had a return on equity of 11.20% and a net margin of 14.51%.

Evans Bancorp Dividend Announcement

The company also recently announced a semi-annual dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 12th were given a dividend of $0.66 per share. This represents a yield of 3.9%. The ex-dividend date of this dividend was Thursday, September 12th. Evans Bancorp’s dividend payout ratio (DPR) is presently 38.15%.

Insider Transactions at Evans Bancorp

In related news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price of $32.81 per share, with a total value of $219,170.80. Following the completion of the acquisition, the insider now owns 611,759 shares of the company’s stock, valued at approximately $20,071,812.79. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.34% of the company’s stock.

Hedge Funds Weigh In On Evans Bancorp

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of Evans Bancorp by 78.1% in the 1st quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after acquiring an additional 1,151 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Evans Bancorp in the second quarter worth about $204,000. Ritholtz Wealth Management purchased a new stake in shares of Evans Bancorp during the third quarter valued at about $218,000. Squarepoint Ops LLC purchased a new stake in shares of Evans Bancorp during the second quarter valued at about $237,000. Finally, American Century Companies Inc. bought a new stake in shares of Evans Bancorp in the 2nd quarter valued at about $337,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on EVBN shares. StockNews.com initiated coverage on Evans Bancorp in a report on Monday. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods upped their target price on shares of Evans Bancorp from $26.50 to $30.50 and gave the stock a “market perform” rating in a research report on Thursday, August 1st.

Evans Bancorp Company Profile

Evans Bancorp, Inc primarily operates as financial holding company for Evans Bank, N.A. that provides a range of banking products and services to consumer and commercial customers in the United States. The company offers deposit products, which include checking and negotiable order of withdrawal accounts, savings accounts, and certificates of deposit.