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

StockNews.com started coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research report report published on Monday morning. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upped their price target on shares of Evans Bancorp from $42.32 to $45.50 and gave the company a “market perform” rating in a report on Friday, November 1st.

Evans Bancorp Price Performance

Shares of NYSEAMERICAN EVBN opened at $44.92 on Monday. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $46.00. The firm has a market cap of $248.86 million, a PE ratio of 13.49 and a beta of 0.91. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86.

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

Institutional Investors Weigh In On Evans Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVBN. Endeavour Capital Advisors Inc. lifted its position 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 raised 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 acquiring an additional 66,642 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Evans Bancorp during the 2nd quarter valued at $500,000. Stifel Financial Corp bought a new position in Evans Bancorp during the third quarter worth $556,000. Finally, American Century Companies Inc. acquired a new position in shares of Evans Bancorp in the second quarter valued at $337,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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.