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

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

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

Evans Bancorp Stock Down 0.9 %

NYSEAMERICAN EVBN opened at $45.15 on Friday. Evans Bancorp has a 12 month low of $24.07 and a 12 month high of $46.21. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $250.13 million, a P/E ratio of 13.56 and a beta of 0.92.

Evans Bancorp (NYSEAMERICAN:EVBN) last issued 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 return on equity of 10.27% and a net margin of 13.80%. The company had revenue of $31.69 million for the quarter.

Institutional Investors Weigh In On Evans Bancorp

Hedge funds have recently made changes to their positions in the business. PL Capital Advisors LLC raised its stake in shares of Evans Bancorp by 1.1% during the third quarter. PL Capital Advisors LLC now owns 611,759 shares of the bank’s stock worth $23,840,000 after purchasing an additional 6,680 shares during the last quarter. Endeavour Capital Advisors Inc. raised its position in Evans Bancorp by 56.6% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock worth $8,394,000 after buying an additional 107,954 shares during the last quarter. Vanguard Group Inc. raised its position in Evans Bancorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock worth $8,400,000 after buying an additional 1,620 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Evans Bancorp in the 3rd quarter worth $5,599,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Evans Bancorp by 6.9% in the third quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock valued at $2,175,000 after acquiring an additional 3,583 shares in the last quarter. 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.