Evans Bancorp (NYSEAMERICAN:EVBN) Earns Hold Rating from Analysts at StockNews.com

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

Separately, Keefe, Bruyette & Woods lifted 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.

Evans Bancorp Stock Performance

EVBN opened at $42.91 on Tuesday. The stock has a market cap of $237.72 million, a PE ratio of 12.89 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.98 and a current ratio of 0.99. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $45.43.

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

Institutional Investors Weigh In On Evans Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Endeavour Capital Advisors Inc. boosted its position in Evans Bancorp by 56.6% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock worth $8,394,000 after purchasing an additional 107,954 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Evans Bancorp in the 2nd quarter valued at $500,000. American Century Companies Inc. purchased a new stake in Evans Bancorp during the second quarter worth $337,000. Squarepoint Ops LLC acquired a new stake in Evans Bancorp during the second quarter valued at $237,000. Finally, Vanguard Group Inc. increased its holdings in Evans Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock valued at $8,400,000 after buying an additional 1,620 shares in the last quarter. 67.10% of the stock is owned by hedge funds and other 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.