Evans Bancorp (NYSEAMERICAN:EVBN) Price Target Raised to $45.50

Evans Bancorp (NYSEAMERICAN:EVBN) had its price objective boosted by Keefe, Bruyette & Woods from $42.32 to $45.50 in a research note published on Friday morning, Benzinga reports. They currently have a market perform rating on the bank’s stock.

Separately, StockNews.com assumed coverage on Evans Bancorp in a report on Friday. They set a “hold” rating on the stock.

Evans Bancorp Stock Down 0.7 %

Shares of NYSEAMERICAN EVBN opened at $39.54 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $218.66 million, a price-to-earnings ratio of 11.87 and a beta of 0.91. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $41.18.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its quarterly earnings data on Thursday, October 31st. The bank reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.13. The business had revenue of $31.69 million for the quarter. Evans Bancorp had a net margin of 13.80% and a return on equity of 10.40%.

Evans Bancorp Dividend Announcement

The company also recently declared a semi-annual dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 12th were given a dividend of $0.66 per share. This represents a dividend yield of 3.9%. The ex-dividend date was Thursday, September 12th. Evans Bancorp’s dividend payout ratio (DPR) is presently 39.64%.

Institutional Investors Weigh In On Evans Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its position in Evans Bancorp by 78.1% in the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after buying an additional 1,151 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Evans Bancorp during the 2nd quarter valued at $204,000. Ritholtz Wealth Management purchased a new stake in shares of Evans Bancorp in the third quarter valued at $218,000. Squarepoint Ops LLC acquired a new stake in shares of Evans Bancorp in the second quarter worth $237,000. Finally, American Century Companies Inc. purchased a new position in shares of Evans Bancorp during the second quarter valued at $337,000. 67.10% of the stock is currently 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.