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

Equities research analysts at StockNews.com assumed coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a report released on Friday. The firm set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upped their price target on Evans Bancorp from $26.50 to $30.50 and gave the stock a “market perform” rating in a research report on Thursday, August 1st.

Evans Bancorp Stock Performance

Evans Bancorp stock opened at $39.82 on Friday. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $41.18. The firm has a market cap of $220.20 million, a price-to-earnings ratio of 11.51 and a beta of 0.91. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.90.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. PL Capital Advisors LLC increased its holdings in shares of 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. Ritholtz Wealth Management acquired a new stake in shares of Evans Bancorp in the third quarter valued at about $218,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Evans Bancorp in the second quarter valued at about $500,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Evans Bancorp during the second quarter worth about $204,000. Finally, Endeavour Capital Advisors Inc. raised its position in shares of Evans Bancorp by 56.6% during 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 during the last quarter. 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.