Evans Bancorp (NYSEAMERICAN:EVBN) Now Covered by StockNews.com

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

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

Evans Bancorp Price Performance

Shares of NYSEAMERICAN:EVBN opened at $44.43 on Tuesday. The stock has a market cap of $246.14 million, a P/E ratio of 13.34 and a beta of 0.91. Evans Bancorp has a 12-month low of $24.07 and a 12-month high of $45.43. 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 announced its quarterly earnings results on Thursday, October 31st. The bank reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.13. Evans Bancorp had a net margin of 13.80% and a return on equity of 10.27%. The business had revenue of $31.69 million during the quarter.

Institutional Trading of Evans Bancorp

Several hedge funds have recently modified their holdings of EVBN. BNP Paribas Financial Markets lifted its stake 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 acquiring an additional 1,151 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Evans Bancorp in the 2nd quarter valued at $204,000. Ritholtz Wealth Management purchased a new stake in shares of Evans Bancorp during the 3rd quarter worth $218,000. Squarepoint Ops LLC acquired a new position in shares of Evans Bancorp during the second quarter worth $237,000. Finally, Prime Capital Investment Advisors LLC purchased a new position in Evans Bancorp in the third quarter valued at $251,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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.