Evans Bancorp (NYSEAMERICAN:EVBN) Now Covered by StockNews.com

StockNews.com started coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note released on Monday morning. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods lifted their target price 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 Price Performance

Shares of Evans Bancorp stock opened at $41.18 on Monday. The firm has a market capitalization of $227.73 million, a price-to-earnings ratio of 11.90 and a beta of 0.91. Evans Bancorp has a 12-month low of $24.07 and a 12-month high of $41.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.98 and a current ratio of 0.98.

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

Evans Bancorp Dividend Announcement

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 $0.66 dividend. The ex-dividend date was Thursday, September 12th. This represents a yield of 3.9%. Evans Bancorp’s dividend payout ratio (DPR) is presently 38.15%.

Insiders Place Their Bets

In related news, major shareholder Pl Capital Advisors, Llc acquired 6,680 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average cost of $32.81 per share, with a total value of $219,170.80. Following the completion of the acquisition, the insider now directly owns 611,759 shares of the company’s stock, valued at approximately $20,071,812.79. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.34% of the company’s stock.

Institutional Trading of Evans Bancorp

Large investors have recently added to or reduced their stakes in the business. Ritholtz Wealth Management purchased a new stake in Evans Bancorp during the third quarter valued at $218,000. Cubist Systematic Strategies LLC purchased a new stake in Evans Bancorp during the second quarter valued at $500,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Evans Bancorp during the second quarter valued at $204,000. Endeavour Capital Advisors Inc. raised its stake in Evans Bancorp by 56.6% during the second 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 in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Evans Bancorp during the second quarter valued at $237,000. 67.10% of the stock is currently owned by 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.