Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Short Interest Down 21.7% in October

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 16,200 shares, a decrease of 21.7% from the October 15th total of 20,700 shares. Based on an average trading volume of 38,500 shares, the short-interest ratio is presently 0.4 days. Approximately 0.3% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Endeavour Capital Advisors Inc. boosted its position in 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 in the last quarter. PL Capital Advisors LLC lifted its stake in shares of Evans Bancorp by 12.4% in the 2nd quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank’s stock valued at $17,009,000 after purchasing an additional 66,642 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Evans Bancorp during the second quarter worth $500,000. American Century Companies Inc. acquired a new stake in Evans Bancorp during the second quarter valued at $337,000. Finally, De Lisle Partners LLP increased its holdings in Evans Bancorp by 30.3% in the third quarter. De Lisle Partners LLP now owns 46,943 shares of the bank’s stock valued at $1,829,000 after buying an additional 10,908 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Evans Bancorp Stock Performance

EVBN opened at $43.80 on Friday. The stock has a market cap of $242.65 million, a PE ratio of 13.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.98 and a current ratio of 0.99. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $45.43.

Evans Bancorp (NYSEAMERICAN:EVBN) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $0.53 EPS 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 during the quarter.

Evans Bancorp Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 12th were issued a $0.66 dividend. This represents a dividend yield of 3.9%. The ex-dividend date was Thursday, September 12th. Evans Bancorp’s dividend payout ratio (DPR) is currently 39.64%.

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.