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

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

Separately, Keefe, Bruyette & Woods raised their price objective on shares of Evans Bancorp from $26.50 to $30.50 and gave the stock a market perform rating in a report on Thursday, August 1st.

Evans Bancorp Stock Performance

NYSEAMERICAN:EVBN opened at $40.09 on Monday. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $40.97. The company has a market cap of $221.70 million, a P/E ratio of 11.59 and a beta of 0.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.90.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its quarterly earnings data on Tuesday, July 30th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.15. Evans Bancorp had a net margin of 14.51% and a return on equity of 11.20%. The business had revenue of $30.22 million for the quarter.

Evans Bancorp Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 12th were issued a $0.66 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a yield of 3.9%. Evans Bancorp’s dividend payout ratio is presently 38.15%.

Insider Activity at Evans Bancorp

In related news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price of $32.81 per share, with a total value of $219,170.80. Following the completion of the acquisition, the insider now owns 611,759 shares in the company, valued at approximately $20,071,812.79. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 6.34% of the stock is owned by company insiders.

Institutional Trading of Evans Bancorp

Hedge funds have recently made changes to their positions in the business. Endeavour Capital Advisors Inc. raised its holdings in shares of Evans Bancorp by 56.6% in the second quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock valued at $8,394,000 after buying an additional 107,954 shares during the last quarter. PL Capital Advisors LLC increased its stake in 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 in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Evans Bancorp in the 2nd quarter worth about $500,000. American Century Companies Inc. purchased a new position in shares of Evans Bancorp during the 2nd quarter worth approximately $337,000. Finally, Squarepoint Ops LLC purchased a new stake in Evans Bancorp during the 2nd quarter worth about $237,000. Institutional investors and hedge funds 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.