Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Short Interest Down 21.7% in October

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 16,200 shares, a decline of 21.7% from the October 15th total of 20,700 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 38,500 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Endeavour Capital Advisors Inc. lifted its stake in Evans Bancorp by 56.6% during the second 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 in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Evans Bancorp in the 2nd quarter valued at approximately $500,000. American Century Companies Inc. acquired a new position in Evans Bancorp in the 2nd quarter worth approximately $337,000. Squarepoint Ops LLC acquired a new position in Evans Bancorp in the 2nd quarter worth approximately $237,000. Finally, Vanguard Group Inc. raised its stake in Evans Bancorp by 0.6% during the 1st 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 during the period. Institutional investors own 67.10% of the company’s stock.

Analyst Ratings Changes

EVBN has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Evans Bancorp from $42.32 to $45.50 and gave the company a “market perform” rating in a research note on Friday, November 1st. StockNews.com assumed coverage on Evans Bancorp in a research note on Wednesday. They issued a “hold” rating for the company.

Evans Bancorp Trading Down 1.2 %

Shares of NYSEAMERICAN:EVBN traded down $0.52 on Friday, hitting $43.28. The company’s stock had a trading volume of 14,730 shares, compared to its average volume of 45,808. Evans Bancorp has a 12 month low of $24.07 and a 12 month high of $45.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.98 and a current ratio of 0.99. The stock has a market cap of $239.77 million, a price-to-earnings ratio of 13.00 and a beta of 0.91.

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

Evans Bancorp Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 12th were issued a dividend of $0.66 per share. This represents a yield of 3.9%. The ex-dividend date of this dividend was Thursday, September 12th. Evans Bancorp’s payout ratio is 39.64%.

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.