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

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

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

Evans Bancorp Stock Up 2.6 %

EVBN stock opened at $43.60 on Tuesday. Evans Bancorp has a one year low of $24.07 and a one year high of $45.43. The company has a market cap of $241.54 million, a PE ratio of 13.09 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Endeavour Capital Advisors Inc. lifted its stake in shares of Evans Bancorp by 56.6% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock worth $8,394,000 after acquiring an additional 107,954 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Evans Bancorp during the second quarter worth about $500,000. American Century Companies Inc. acquired a new position in Evans Bancorp during the second quarter worth about $337,000. Squarepoint Ops LLC acquired a new position in Evans Bancorp during the second quarter worth about $237,000. Finally, Vanguard Group Inc. increased its holdings in Evans Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock valued at $8,400,000 after buying an additional 1,620 shares in the last quarter. Hedge funds and other institutional investors 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.