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

StockNews.com initiated coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note issued on Wednesday. The firm set a “hold” rating on the bank’s stock.

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

Evans Bancorp Price Performance

Evans Bancorp stock opened at $42.22 on Wednesday. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $46.21. The company has a market capitalization of $233.90 million, a PE ratio of 12.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. PL Capital Advisors LLC raised its stake in Evans Bancorp by 1.1% in 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 during the last quarter. Endeavour Capital Advisors Inc. raised 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. Oddo BHF Asset Management Sas purchased a new position in shares of Evans Bancorp during the third quarter valued at approximately $5,599,000. Geode Capital Management LLC boosted its position in Evans Bancorp by 6.9% during the third quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock worth $2,175,000 after acquiring an additional 3,583 shares during the last quarter. Finally, De Lisle Partners LLP grew its stake in Evans Bancorp by 30.3% in the 3rd quarter. De Lisle Partners LLP now owns 46,943 shares of the bank’s stock worth $1,829,000 after acquiring an additional 10,908 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

About Evans Bancorp

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.