Evans Bancorp (NYSEAMERICAN:EVBN) Research Coverage Started at StockNews.com

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

Separately, Keefe, Bruyette & Woods raised their price objective on shares of Evans Bancorp from $26.50 to $30.50 and gave the stock a “market perform” rating in a research report on Thursday, August 1st.

Evans Bancorp Trading Up 0.8 %

EVBN opened at $39.90 on Friday. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $41.18. The firm has a market cap of $220.65 million, a PE ratio of 11.53 and a beta of 0.91. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.90.

Evans Bancorp (NYSEAMERICAN:EVBN) last issued its quarterly earnings results on Tuesday, July 30th. The bank reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.15. Evans Bancorp had a net margin of 14.51% and a return on equity of 11.20%. The business had revenue of $30.22 million for the quarter.

Evans Bancorp Dividend Announcement

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 12th were issued a dividend of $0.66 per share. The ex-dividend date was Thursday, September 12th. This represents a dividend yield of 3.9%. Evans Bancorp’s dividend payout ratio is 38.15%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its holdings in Evans Bancorp by 78.1% during the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after buying an additional 1,151 shares in the last quarter. PL Capital Advisors LLC raised its holdings in shares of Evans Bancorp by 3.0% in the first quarter. PL Capital Advisors LLC now owns 538,437 shares of the bank’s stock valued at $16,078,000 after purchasing an additional 15,788 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Evans Bancorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock valued at $8,400,000 after purchasing an additional 1,620 shares in the last quarter. American Century Companies Inc. purchased a new position in Evans Bancorp during the second quarter worth about $337,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Evans Bancorp in the 2nd quarter worth about $500,000. 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.