StockNews.com Initiates Coverage on Evans Bancorp (NYSEAMERICAN:EVBN)

Stock analysts at StockNews.com assumed coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note issued on Thursday. The firm set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods lifted their price objective 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.

Evans Bancorp Price Performance

Shares of NYSEAMERICAN EVBN opened at $43.30 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $239.45 million, a P/E ratio of 13.00 and a beta of 0.91. Evans Bancorp has a 52 week low of $24.07 and a 52 week high of $44.42.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its earnings results on Thursday, October 31st. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.13. The company had revenue of $31.69 million for the quarter. Evans Bancorp had a net margin of 13.80% and a return on equity of 10.40%.

Hedge Funds Weigh In On Evans Bancorp

Several large investors have recently added to or reduced their stakes in EVBN. BNP Paribas Financial Markets increased its position in Evans Bancorp by 78.1% in the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after buying an additional 1,151 shares during the period. Vanguard Group Inc. grew its position in shares of Evans Bancorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock worth $8,400,000 after acquiring an additional 1,620 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Evans Bancorp in the 3rd quarter worth about $218,000. Prime Capital Investment Advisors LLC bought a new stake in Evans Bancorp in the 3rd quarter valued at about $251,000. Finally, PL Capital Advisors LLC boosted its stake in Evans Bancorp by 1.1% during the 3rd quarter. PL Capital Advisors LLC now owns 611,759 shares of the bank’s stock valued at $23,840,000 after purchasing an additional 6,680 shares during the period. 67.10% of the stock is currently owned by institutional investors.

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.