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

Research analysts at StockNews.com started coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note issued to investors on Thursday. The firm set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods lifted their target price on shares of Evans Bancorp from $42.32 to $45.50 and gave the stock a “market perform” rating in a research note on Friday, November 1st.

Evans Bancorp Price Performance

Shares of EVBN stock opened at $43.54 on Thursday. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $46.21. 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 stock has a market capitalization of $241.21 million, a PE ratio of 13.08 and a beta of 0.92.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Evans Bancorp during the 2nd quarter worth about $204,000. Ritholtz Wealth Management acquired a new position in shares of Evans Bancorp during the third quarter worth about $218,000. Squarepoint Ops LLC purchased a new stake in shares of Evans Bancorp during the second quarter worth approximately $237,000. Prime Capital Investment Advisors LLC acquired a new stake in Evans Bancorp in the third quarter valued at approximately $251,000. Finally, American Century Companies Inc. purchased a new position in Evans Bancorp in the second quarter worth approximately $337,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

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.