The Manufacturers Life Insurance Company Sells 5,235 Shares of Evans Bancorp, Inc. (NYSEAMERICAN:EVBN)

The Manufacturers Life Insurance Company lessened its holdings in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 204,546 shares of the bank’s stock after selling 5,235 shares during the period. The Manufacturers Life Insurance Company’s holdings in Evans Bancorp were worth $7,971,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of EVBN. Vanguard Group Inc. increased its position in Evans Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock worth $8,400,000 after purchasing an additional 1,620 shares during the last quarter. PL Capital Advisors LLC increased its position in Evans Bancorp by 12.4% during the second 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 last quarter. American Century Companies Inc. bought a new position in Evans Bancorp during the second quarter valued at $337,000. Cubist Systematic Strategies LLC bought a new position in Evans Bancorp during the second quarter valued at $500,000. Finally, Squarepoint Ops LLC bought a new position in Evans Bancorp during the second quarter valued at $237,000. Institutional investors own 67.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on EVBN. StockNews.com began coverage on shares of Evans Bancorp in a research report on Sunday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Evans Bancorp from $42.32 to $45.50 and gave the company a “market perform” rating in a research report on Friday, November 1st.

Evans Bancorp Price Performance

Shares of EVBN opened at $44.35 on Thursday. The firm has a market cap of $245.70 million, a PE ratio of 13.32 and a beta of 0.92. Evans Bancorp, Inc. has a 12-month low of $24.07 and a 12-month high of $46.00. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86.

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

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.