Evans Bancorp (NYSEAMERICAN:EVBN) Now Covered by StockNews.com

StockNews.com began coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a report released on Sunday. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upped 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 Stock Down 0.4 %

EVBN stock opened at $44.41 on Friday. Evans Bancorp has a fifty-two week low of $24.07 and a fifty-two week high of $46.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $246.03 million, a P/E ratio of 13.34 and a beta of 0.91.

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 the consensus estimate of $0.40 by $0.13. The company had revenue of $31.69 million during the quarter. Evans Bancorp had a return on equity of 10.27% and a net margin of 13.80%.

Institutional Investors Weigh In On Evans Bancorp

Several institutional investors have recently made changes to their positions in EVBN. Endeavour Capital Advisors Inc. lifted its position in shares of Evans Bancorp by 56.6% during the second quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock worth $8,394,000 after acquiring an additional 107,954 shares in the last quarter. PL Capital Advisors LLC lifted its position in shares of Evans Bancorp by 12.4% during the second quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank’s stock worth $17,009,000 after acquiring an additional 66,642 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Evans Bancorp during the second quarter worth $500,000. Stifel Financial Corp purchased a new stake in shares of Evans Bancorp during 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. Hedge funds and other 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.