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

Stock analysts at StockNews.com began coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a report issued on Wednesday. The brokerage set a “hold” rating on the bank’s stock.

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

Evans Bancorp Price Performance

Shares of EVBN opened at $44.30 on Wednesday. The company has a market capitalization of $244.98 million, a PE ratio of 13.30 and a beta of 0.91. Evans Bancorp has a one year low of $24.07 and a one year high of $45.21. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.98 and a current ratio of 0.98.

Evans Bancorp (NYSEAMERICAN:EVBN) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.13. The company had revenue of $31.69 million for the quarter. Evans Bancorp had a return on equity of 10.40% and a net margin of 13.80%.

Institutional Investors Weigh In On Evans Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in EVBN. BNP Paribas Financial Markets raised its stake in shares of Evans Bancorp by 78.1% during the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after buying an additional 1,151 shares during the last quarter. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 1,620 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Evans Bancorp during the 3rd quarter valued at $218,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Evans Bancorp in the 3rd quarter valued at $251,000. Finally, PL Capital Advisors LLC boosted its position in shares of Evans Bancorp by 1.1% in the 3rd quarter. PL Capital Advisors LLC now owns 611,759 shares of the bank’s stock worth $23,840,000 after purchasing an additional 6,680 shares during the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

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.