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

StockNews.com started coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research report issued on Sunday. The firm set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upped their price objective on shares of Evans Bancorp from $26.50 to $30.50 and gave the stock a “market perform” rating in a report on Thursday, August 1st.

Evans Bancorp Stock Performance

NYSEAMERICAN EVBN opened at $40.64 on Friday. The company has a market cap of $224.74 million, a P/E ratio of 11.75 and a beta of 0.91. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $41.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.98 and a current ratio of 0.98.

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

Insider Buying and Selling

In other news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of Evans Bancorp stock in a transaction that occurred on Tuesday, July 23rd. The stock was bought at an average price of $32.81 per share, with a total value of $219,170.80. Following the completion of the transaction, the insider now directly owns 611,759 shares of the company’s stock, valued at approximately $20,071,812.79. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Evans Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of EVBN. BNP Paribas Financial Markets lifted its holdings in shares of Evans Bancorp by 78.1% during the 1st quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock valued at $78,000 after buying an additional 1,151 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Evans Bancorp in the second quarter worth about $204,000. Ritholtz Wealth Management bought a new stake in shares of Evans Bancorp during the 3rd quarter valued at about $218,000. Squarepoint Ops LLC purchased a new stake in shares of Evans Bancorp during the 2nd quarter valued at about $237,000. Finally, American Century Companies Inc. bought a new position in shares of Evans Bancorp in the 2nd quarter worth approximately $337,000. Institutional investors own 67.10% of the company’s stock.

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.