Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Short Interest Update

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 87,200 shares, an increase of 8.5% from the November 30th total of 80,400 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 32,300 shares, the short-interest ratio is currently 2.7 days.

Evans Bancorp Price Performance

Shares of NYSEAMERICAN EVBN traded down $0.14 during midday trading on Wednesday, hitting $43.30. 9,954 shares of the stock traded hands, compared to its average volume of 28,708. Evans Bancorp has a one year low of $24.07 and a one year high of $46.21. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $239.88 million, a price-to-earnings ratio of 13.00 and a beta of 0.92.

Evans Bancorp (NYSEAMERICAN:EVBN) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.13. Evans Bancorp had a net margin of 13.80% and a return on equity of 10.27%. The business had revenue of $31.69 million for the quarter.

Institutional Investors Weigh In On Evans Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. bought a new stake in shares of Evans Bancorp in the 2nd quarter worth about $337,000. Cubist Systematic Strategies LLC bought a new stake in shares of Evans Bancorp during the second quarter valued at approximately $500,000. Squarepoint Ops LLC purchased a new stake in shares of Evans Bancorp in the 2nd quarter worth $237,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Evans Bancorp in the second quarter worth about $204,000. Finally, Endeavour Capital Advisors Inc. lifted its position in shares of Evans Bancorp by 56.6% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock worth $8,394,000 after purchasing an additional 107,954 shares during the period. 67.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EVBN. Keefe, Bruyette & Woods raised their target price on Evans Bancorp from $42.32 to $45.50 and gave the company a “market perform” rating in a research note on Friday, November 1st. StockNews.com started coverage on shares of Evans Bancorp in a research report on Wednesday, December 25th. They set a “hold” rating for the company.

About Evans Bancorp

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.