Evans Bancorp (NYSEAMERICAN:EVBN) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note issued to investors on Monday. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods boosted their target price 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 opened at $44.92 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $248.86 million, a PE ratio of 13.49 and a beta of 0.91. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $46.00.

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

Institutional Trading of Evans Bancorp

Several hedge funds have recently modified their holdings of EVBN. Vanguard Group Inc. raised 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 purchasing an additional 1,620 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Evans Bancorp by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock valued at $2,175,000 after purchasing an additional 3,583 shares during the last quarter. Barclays PLC grew its position in shares of Evans Bancorp by 47.7% during the 3rd quarter. Barclays PLC now owns 16,163 shares of the bank’s stock worth $630,000 after buying an additional 5,218 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Evans Bancorp during the third quarter worth approximately $218,000. Finally, Prime Capital Investment Advisors LLC acquired a new position in Evans Bancorp in the third quarter valued at approximately $251,000. 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.