Short Interest in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Expands By 414.8%

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 83,400 shares, an increase of 414.8% from the October 31st total of 16,200 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average trading volume of 39,700 shares, the short-interest ratio is currently 2.1 days.

Evans Bancorp Stock Up 0.2 %

Shares of NYSEAMERICAN EVBN traded up $0.09 during mid-day trading on Thursday, hitting $44.52. 5,664 shares of the company’s stock traded hands, compared to its average volume of 29,149. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $246.64 million, a price-to-earnings ratio of 13.37 and a beta of 0.91. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $46.00.

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

Institutional Trading of Evans Bancorp

Hedge funds have recently made changes to their positions in the business. Barclays PLC grew its holdings in Evans Bancorp by 47.7% during the 3rd quarter. Barclays PLC now owns 16,163 shares of the bank’s stock valued at $630,000 after purchasing an additional 5,218 shares during the last quarter. Geode Capital Management LLC grew its stake in Evans Bancorp by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock worth $2,175,000 after acquiring an additional 3,583 shares in the last quarter. Stifel Financial Corp bought a new position in Evans Bancorp in the 3rd quarter worth about $556,000. De Lisle Partners LLP grew its stake in Evans Bancorp by 30.3% in the 3rd quarter. De Lisle Partners LLP now owns 46,943 shares of the bank’s stock worth $1,829,000 after acquiring an additional 10,908 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new position in Evans Bancorp in the 3rd quarter worth about $251,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on EVBN shares. StockNews.com initiated coverage on Evans Bancorp in a research report on Monday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods increased their target price on Evans Bancorp from $42.32 to $45.50 and gave the company a “market perform” rating in a research note on Friday, November 1st.

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.