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

StockNews.com assumed coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note issued to investors on Wednesday morning. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods raised 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.

Evans Bancorp Stock Performance

NYSEAMERICAN EVBN opened at $44.27 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $46.21. The company has a market cap of $245.26 million, a price-to-earnings ratio of 13.29 and a beta of 0.92.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.13. Evans Bancorp had a net margin of 13.80% and a return on equity of 10.27%. The firm had revenue of $31.69 million during the quarter.

Hedge Funds Weigh In On Evans Bancorp

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Evans Bancorp by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock worth $2,175,000 after acquiring an additional 3,583 shares in the last quarter. Barclays PLC boosted its holdings in shares of Evans Bancorp by 47.7% in the third quarter. Barclays PLC now owns 16,163 shares of the bank’s stock valued at $630,000 after purchasing an additional 5,218 shares during the period. Ritholtz Wealth Management bought a new position in Evans Bancorp in the third quarter worth approximately $218,000. Prime Capital Investment Advisors LLC purchased a new position in Evans Bancorp during the 3rd quarter worth $251,000. Finally, PL Capital Advisors LLC raised its position 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 in the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

About Evans Bancorp

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.