Short Interest in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Expands By 7.6%

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 18,300 shares, an increase of 7.6% from the September 15th total of 17,000 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily volume of 26,700 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Keefe, Bruyette & Woods increased their price objective on Evans Bancorp from $26.50 to $30.50 and gave the company a “market perform” rating in a research report on Thursday, August 1st. StockNews.com began coverage on Evans Bancorp in a report on Monday. They issued a “hold” rating on the stock.

Evans Bancorp Price Performance

Shares of NYSEAMERICAN EVBN opened at $41.18 on Friday. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $41.18. The firm has a market cap of $227.73 million, a PE ratio of 11.90 and a beta of 0.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.90.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its quarterly earnings results on Tuesday, July 30th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.15. Evans Bancorp had a return on equity of 11.20% and a net margin of 14.51%. The company had revenue of $30.22 million during the quarter.

Evans Bancorp Announces Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 12th were issued a dividend of $0.66 per share. This represents a yield of 3.9%. The ex-dividend date of this dividend was Thursday, September 12th. Evans Bancorp’s dividend payout ratio (DPR) is presently 38.15%.

Insider Transactions at Evans Bancorp

In other news, major shareholder Pl Capital Advisors, Llc acquired 6,680 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average price of $32.81 per share, with a total value of $219,170.80. Following the completion of the acquisition, the insider now owns 611,759 shares in the company, valued at approximately $20,071,812.79. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. PL Capital Advisors LLC lifted its position in shares of Evans Bancorp by 12.4% in the second 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 in the last quarter. Endeavour Capital Advisors Inc. lifted its position in Evans Bancorp by 56.6% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock worth $8,394,000 after buying an additional 107,954 shares in the last quarter. Vanguard Group Inc. grew 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 valued at $8,400,000 after acquiring an additional 1,620 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Evans Bancorp in the second quarter valued at about $500,000. Finally, American Century Companies Inc. bought a new stake in Evans Bancorp during the second quarter worth about $337,000. 67.10% of the stock is owned by institutional investors and hedge funds.

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.