Evans Bancorp (NYSEAMERICAN:EVBN) Coverage Initiated by Analysts at StockNews.com

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

Separately, Keefe, Bruyette & Woods raised their price target on 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 Stock Performance

EVBN opened at $44.13 on Friday. The company has a market capitalization of $244.48 million, a P/E ratio of 13.25 and a beta of 0.91. 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 has a twelve month low of $24.07 and a twelve month high of $46.00.

Evans Bancorp (NYSEAMERICAN:EVBN) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Endeavour Capital Advisors Inc. increased its holdings in Evans Bancorp by 56.6% in the 2nd 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 period. PL Capital Advisors LLC boosted its position in shares of Evans Bancorp by 12.4% during 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 in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Evans Bancorp in the second quarter valued at about $500,000. Stifel Financial Corp acquired a new position in Evans Bancorp in the third quarter worth about $556,000. Finally, American Century Companies Inc. bought a new position in Evans Bancorp during the second quarter worth about $337,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.