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

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

Separately, Keefe, Bruyette & Woods lifted 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 note on Friday, November 1st.

Evans Bancorp Stock Down 2.3 %

EVBN opened at $40.85 on Wednesday. Evans Bancorp has a one year low of $24.07 and a one year high of $46.21. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $226.31 million, a price-to-earnings ratio of 12.27 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, beating analysts’ consensus estimates of $0.40 by $0.13. The company had revenue of $31.69 million during the quarter. Evans Bancorp had a return on equity of 10.27% and a net margin of 13.80%.

Institutional Investors Weigh In On Evans Bancorp

Several hedge funds have recently made changes to their positions in EVBN. JPMorgan Chase & Co. boosted its stake in Evans Bancorp by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,503 shares of the bank’s stock worth $370,000 after purchasing an additional 1,511 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in Evans Bancorp in the 3rd quarter valued at approximately $5,599,000. Barclays PLC boosted its stake 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 increased its holdings in shares of 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 purchasing an additional 3,583 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Evans Bancorp in the third quarter worth $556,000. 67.10% of the stock is currently owned by institutional investors.

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.