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

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

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

Evans Bancorp Stock Performance

NYSEAMERICAN EVBN opened at $39.96 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.90. The stock has a market cap of $220.98 million, a PE ratio of 11.55 and a beta of 0.91. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $41.18.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its quarterly earnings results on Tuesday, July 30th. The bank reported $0.53 EPS for the quarter, topping 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 firm also recently announced a semi-annual dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 12th were given a dividend of $0.66 per share. The ex-dividend date was Thursday, September 12th. This represents a yield of 3.9%. Evans Bancorp’s dividend payout ratio is presently 38.15%.

Institutional Investors Weigh In On Evans Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its position in shares of Evans Bancorp by 78.1% in the 1st quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after purchasing an additional 1,151 shares during the period. PL Capital Advisors LLC increased its stake in shares of Evans Bancorp by 3.0% in the 1st quarter. PL Capital Advisors LLC now owns 538,437 shares of the bank’s stock valued at $16,078,000 after acquiring an additional 15,788 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Evans Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock valued at $8,400,000 after acquiring an additional 1,620 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Evans Bancorp in the 2nd quarter valued at $337,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Evans Bancorp in the 2nd quarter valued at $500,000. 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.