Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Short Interest Up 414.8% in November

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 83,400 shares, a growth of 414.8% from the October 31st total of 16,200 shares. Based on an average daily volume of 39,700 shares, the short-interest ratio is currently 2.1 days. Currently, 1.6% of the shares of the company are short sold.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Evans Bancorp in the second quarter valued at about $204,000. Ritholtz Wealth Management acquired a new position in Evans Bancorp in the third quarter worth about $218,000. Squarepoint Ops LLC acquired a new position in Evans Bancorp in the second quarter worth about $237,000. Prime Capital Investment Advisors LLC acquired a new position in Evans Bancorp in the third quarter worth about $251,000. Finally, American Century Companies Inc. acquired a new position in Evans Bancorp in the second quarter worth about $337,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on EVBN. StockNews.com began coverage on Evans Bancorp in a research note on Monday. They set a “hold” rating for the company. Keefe, Bruyette & Woods upped their price target on Evans Bancorp from $42.32 to $45.50 and gave the stock a “market perform” rating in a report on Friday, November 1st.

Evans Bancorp Price Performance

NYSEAMERICAN:EVBN traded down $0.17 during trading hours on Friday, reaching $44.41. 4,898 shares of the company traded hands, compared to its average volume of 29,043. The stock has a market cap of $246.03 million, a PE ratio of 13.34 and a beta of 0.91. 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 has a 1-year low of $24.07 and a 1-year high of $46.00.

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

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.