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

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

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

Evans Bancorp Stock Down 1.6 %

Shares of EVBN opened at $44.19 on Monday. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $46.00. The company has a market capitalization of $244.81 million, a price-to-earnings ratio of 13.27 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99.

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

Institutional Trading of Evans Bancorp

Large investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Evans Bancorp in the 2nd quarter valued at $204,000. Ritholtz Wealth Management purchased a new position in Evans Bancorp in the 3rd quarter valued at about $218,000. Squarepoint Ops LLC purchased a new position in Evans Bancorp in the 2nd quarter valued at about $237,000. Prime Capital Investment Advisors LLC purchased a new position in Evans Bancorp in the 3rd quarter valued at about $251,000. Finally, American Century Companies Inc. purchased a new position in Evans Bancorp in the 2nd quarter valued at about $337,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Evans Bancorp Company Profile

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.