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

Equities researchers at StockNews.com began coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research report issued to clients and investors on Saturday. The firm set 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 stock a “market perform” rating in a report on Friday, November 1st.

Evans Bancorp Stock Up 0.8 %

Shares of NYSEAMERICAN:EVBN opened at $44.59 on Friday. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $46.00. The stock has a market capitalization of $247.03 million, a PE ratio of 13.39 and a beta of 0.92. 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 released its earnings results on Thursday, October 31st. The bank reported $0.53 earnings per share for the quarter, beating 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.

Institutional Investors Weigh In On Evans Bancorp

Institutional investors have recently added to or reduced their stakes in the business. PL Capital Advisors LLC increased its stake in shares of Evans Bancorp by 1.1% in the 3rd quarter. PL Capital Advisors LLC now owns 611,759 shares of the bank’s stock valued at $23,840,000 after acquiring an additional 6,680 shares in the last quarter. Endeavour Capital Advisors Inc. raised 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 purchasing an additional 107,954 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Evans Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock worth $8,400,000 after purchasing an additional 1,620 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Evans Bancorp in the 3rd quarter valued at $5,599,000. Finally, Geode Capital Management LLC raised its holdings in Evans Bancorp by 6.9% during the third quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock worth $2,175,000 after buying an additional 3,583 shares during the last quarter. 67.10% of the stock is 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.