StockNews.com Initiates Coverage on Evans Bancorp (NYSEAMERICAN:EVBN)

Analysts at StockNews.com assumed coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note issued to investors on Monday. The brokerage set 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 stock a “market perform” rating in a research report on Friday, November 1st.

Evans Bancorp Stock Performance

Shares of NYSEAMERICAN:EVBN opened at $44.16 on Monday. The firm has a market capitalization of $244.65 million, a P/E ratio of 13.26 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 0.99. Evans Bancorp has a 12-month low of $24.07 and a 12-month high of $45.43.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its earnings results on Thursday, October 31st. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate 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 during the quarter.

Hedge Funds Weigh In On Evans Bancorp

Several institutional investors have recently made changes to their positions in EVBN. Vanguard Group Inc. increased its holdings in shares of Evans Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock worth $8,400,000 after acquiring an additional 1,620 shares during the period. PL Capital Advisors LLC grew its position in Evans Bancorp by 12.4% in the 2nd quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank’s stock worth $17,009,000 after purchasing an additional 66,642 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Evans Bancorp during the second quarter valued at approximately $337,000. Cubist Systematic Strategies LLC bought a new stake in shares of Evans Bancorp during the second quarter valued at approximately $500,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Evans Bancorp during the second quarter worth approximately $237,000. 67.10% of the stock is owned by institutional investors.

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.