Evans Bancorp (NYSEAMERICAN:EVBN) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note issued to investors on Monday morning. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upped their target price on Evans Bancorp from $42.32 to $45.50 and gave the company a “market perform” rating in a report on Friday, November 1st.

Evans Bancorp Stock Up 0.3 %

Shares of EVBN opened at $44.58 on Monday. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $46.00. The firm has a market capitalization of $246.97 million, a P/E ratio of 13.39 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99.

Evans Bancorp (NYSEAMERICAN:EVBN) last posted its earnings results on Thursday, October 31st. The bank reported $0.53 EPS for the quarter, topping analysts’ consensus estimates 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 Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Endeavour Capital Advisors Inc. lifted its position in shares of Evans Bancorp by 56.6% in the second 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 in the last quarter. PL Capital Advisors LLC boosted its stake in shares of Evans Bancorp by 12.4% during the 2nd quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank’s stock valued at $17,009,000 after buying an additional 66,642 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Evans Bancorp during the 2nd quarter valued at $500,000. Stifel Financial Corp acquired a new position in shares of Evans Bancorp in the third quarter worth $556,000. Finally, American Century Companies Inc. purchased a new stake in shares of Evans Bancorp during the second quarter worth $337,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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.