State Street Corp Sells 1,500 Shares of Evans Bancorp, Inc. (NYSEAMERICAN:EVBN)

State Street Corp decreased its position in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) by 8.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,820 shares of the bank’s stock after selling 1,500 shares during the period. State Street Corp owned about 0.30% of Evans Bancorp worth $668,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EVBN. Stifel Financial Corp bought a new position in shares of Evans Bancorp during the 3rd quarter worth about $556,000. De Lisle Partners LLP lifted its stake in Evans Bancorp by 30.3% during the third quarter. De Lisle Partners LLP now owns 46,943 shares of the bank’s stock worth $1,829,000 after purchasing an additional 10,908 shares during the period. Prime Capital Investment Advisors LLC acquired a new stake in Evans Bancorp during the third quarter valued at approximately $251,000. PL Capital Advisors LLC boosted its holdings in Evans Bancorp by 1.1% during the third quarter. PL Capital Advisors LLC now owns 611,759 shares of the bank’s stock valued at $23,840,000 after purchasing an additional 6,680 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new stake in shares of Evans Bancorp in the 3rd quarter valued at approximately $218,000. Institutional investors own 67.10% of the company’s stock.

Evans Bancorp Trading Up 1.8 %

EVBN opened at $43.45 on Friday. The firm has a market capitalization of $240.71 million, a price-to-earnings ratio of 13.05 and a beta of 0.92. Evans Bancorp, Inc. has a twelve month low of $24.07 and a twelve month high of $46.21. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86.

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

Analyst Ratings Changes

Several research firms have recently weighed in on EVBN. StockNews.com initiated coverage on shares of Evans Bancorp in a report on Wednesday, December 25th. They set a “hold” rating for the company. Keefe, Bruyette & Woods increased their price target 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.

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.