Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Sees Significant Decline in Short Interest

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) was the target of a significant 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. Approximately 0.3% of the shares of the 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

Institutional investors have recently bought and sold shares of the business. Endeavour Capital Advisors Inc. raised its holdings in shares of Evans Bancorp by 56.6% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock worth $8,394,000 after acquiring an additional 107,954 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Evans Bancorp during the second quarter worth about $500,000. American Century Companies Inc. purchased a new stake in shares of Evans Bancorp in the 2nd quarter valued at approximately $337,000. Squarepoint Ops LLC acquired a new stake in shares of Evans Bancorp during the 2nd quarter worth approximately $237,000. Finally, Vanguard Group Inc. increased its holdings in shares of Evans Bancorp by 0.6% during the 1st 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 owned by hedge funds and other institutional investors.

Evans Bancorp Stock Down 0.6 %

Shares of NYSEAMERICAN:EVBN opened at $43.80 on Friday. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $45.43. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $242.65 million, a PE ratio of 13.24 and a beta of 0.91.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its earnings results on Thursday, October 31st. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.13. The company 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 disclosed a semi-annual dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 12th were issued a $0.66 dividend. The ex-dividend date was Thursday, September 12th. This represents a yield of 3.9%. Evans Bancorp’s payout ratio is 39.64%.

Analyst Ratings Changes

Several equities research analysts recently commented on EVBN shares. Keefe, Bruyette & Woods boosted their price target on shares of Evans Bancorp from $42.32 to $45.50 and gave the stock a “market perform” rating in a report on Friday, November 1st. StockNews.com assumed coverage on shares of Evans Bancorp in a research note on Wednesday. They set a “hold” rating for the company.

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.