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

StockNews.com started coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research report sent to investors on Wednesday morning. The brokerage issued a hold rating on the bank’s stock.

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

Evans Bancorp Trading Down 1.4 %

Shares of NYSEAMERICAN:EVBN opened at $43.61 on Wednesday. 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 has a 52 week low of $24.07 and a 52 week high of $46.21. The firm has a market cap of $241.60 million, a PE ratio of 13.10 and a beta of 0.92.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its earnings results on Thursday, October 31st. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.40 by $0.13. The firm had revenue of $31.69 million for the quarter. Evans Bancorp had a return on equity of 10.27% and a net margin of 13.80%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of EVBN. Oddo BHF Asset Management Sas bought a new stake in shares of Evans Bancorp during the third quarter valued at approximately $5,599,000. Endeavour Capital Advisors Inc. grew 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 valued at $8,394,000 after purchasing an additional 107,954 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Evans Bancorp during the 2nd quarter valued at $500,000. American Century Companies Inc. acquired a new position in Evans Bancorp during the second quarter worth $337,000. Finally, Squarepoint Ops LLC acquired a new position in Evans Bancorp during the second quarter worth $237,000. Institutional investors and hedge funds 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.