Evans Bancorp (NYSEAMERICAN:EVBN) Coverage Initiated by Analysts at StockNews.com

by · The Markets Daily

StockNews.com initiated coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN – Free Report) in a research note issued to investors on Sunday morning. The firm issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods increased their target price 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.

Read Our Latest Analysis on Evans Bancorp

Evans Bancorp Stock Performance

Shares of NYSEAMERICAN EVBN opened at $43.71 on Friday. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $46.00. The company has a market cap of $242.15 million, a price-to-earnings ratio of 13.13 and a beta of 0.92. 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 – Get Free Report) last issued its 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. Evans Bancorp had a net margin of 13.80% and a return on equity of 10.27%. The company had revenue of $31.69 million for the quarter.

Institutional Investors Weigh In On Evans Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Endeavour Capital Advisors Inc. boosted 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 acquired a new position in shares of Evans Bancorp in the 2nd quarter worth approximately $500,000. American Century Companies Inc. bought a new stake in shares of Evans Bancorp in the 2nd quarter worth approximately $337,000. Squarepoint Ops LLC bought a new stake in Evans Bancorp during the second quarter worth approximately $237,000. Finally, Vanguard Group Inc. grew its position in Evans Bancorp by 0.6% in the first 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. 67.10% of the stock is currently owned by institutional investors.

Evans Bancorp Company Profile

(Get Free Report)

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.

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