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

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

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

Evans Bancorp Trading Down 1.2 %

Shares of EVBN opened at $43.28 on Wednesday. The stock has a market cap of $239.77 million, a P/E ratio of 13.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.98. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $45.43.

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

Evans Bancorp Dividend Announcement

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

Institutional Trading of Evans Bancorp

Hedge funds have recently bought and sold shares of the stock. Endeavour Capital Advisors Inc. lifted its position in shares of 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 during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Evans Bancorp during the second quarter valued at approximately $500,000. American Century Companies Inc. purchased a new stake in Evans Bancorp during the second quarter valued at approximately $337,000. Squarepoint Ops LLC acquired a new stake in Evans Bancorp in the second quarter valued at approximately $237,000. Finally, Vanguard Group Inc. grew 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 worth $8,400,000 after purchasing an additional 1,620 shares during the last quarter. Hedge funds and other institutional investors 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.