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

StockNews.com started coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note published on Monday. The firm issued 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 report on Friday, November 1st.

Evans Bancorp Trading Up 0.2 %

Shares of NYSEAMERICAN EVBN opened at $44.52 on Monday. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $46.00. 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 PE ratio of 13.37 and a beta of 0.91.

Evans Bancorp (NYSEAMERICAN:EVBN) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 1,620 shares in the last quarter. Geode Capital Management LLC grew its holdings in Evans Bancorp by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock valued at $2,175,000 after buying an additional 3,583 shares in the last quarter. Barclays PLC increased its stake in shares of Evans Bancorp by 47.7% in the 3rd quarter. Barclays PLC now owns 16,163 shares of the bank’s stock worth $630,000 after acquiring an additional 5,218 shares during the last quarter. Ritholtz Wealth Management purchased a new position in shares of Evans Bancorp during the 3rd quarter worth $218,000. Finally, Prime Capital Investment Advisors LLC purchased a new position in shares of Evans Bancorp during the 3rd quarter worth $251,000. 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.