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

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

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Evans Bancorp from $26.50 to $30.50 and gave the company a “market perform” rating in a research note on Thursday, August 1st.

Evans Bancorp Stock Performance

Shares of EVBN opened at $40.64 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $224.74 million, a price-to-earnings ratio of 11.75 and a beta of 0.91. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $41.18.

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

Insider Activity

In related news, major shareholder Pl Capital Advisors, Llc acquired 6,680 shares of Evans Bancorp stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average cost of $32.81 per share, with a total value of $219,170.80. Following the completion of the purchase, the insider now owns 611,759 shares of the company’s stock, valued at $20,071,812.79. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Evans Bancorp

A number of large investors have recently added to or reduced their stakes in EVBN. BNP Paribas Financial Markets grew its position in shares of Evans Bancorp by 78.1% in the 1st 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. PL Capital Advisors LLC boosted its holdings in Evans Bancorp by 3.0% in the first quarter. PL Capital Advisors LLC now owns 538,437 shares of the bank’s stock valued at $16,078,000 after acquiring an additional 15,788 shares in the last quarter. Vanguard Group Inc. increased its position in Evans Bancorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock valued at $8,400,000 after purchasing an additional 1,620 shares during the period. American Century Companies Inc. bought a new position in Evans Bancorp in the 2nd quarter worth $337,000. Finally, Cubist Systematic Strategies LLC bought a new position in Evans Bancorp in the 2nd quarter worth $500,000. 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.