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

StockNews.com began coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note issued to investors on Sunday. The brokerage issued a hold rating on the bank’s stock.

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

Evans Bancorp Price Performance

EVBN stock opened at $44.41 on Friday. 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 company has a market cap of $246.03 million, a P/E ratio of 13.34 and a beta of 0.91. Evans Bancorp has a 12-month low of $24.07 and a 12-month high of $46.00.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its quarterly earnings results 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 during the quarter.

Hedge Funds Weigh In On Evans Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in EVBN. Endeavour Capital Advisors Inc. increased its holdings in shares of Evans Bancorp by 56.6% during the second quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock worth $8,394,000 after buying an additional 107,954 shares in the last quarter. PL Capital Advisors LLC boosted its position in shares of Evans Bancorp by 12.4% during the second quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank’s stock worth $17,009,000 after purchasing an additional 66,642 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Evans Bancorp during the second quarter worth $500,000. Stifel Financial Corp bought a new position in shares of Evans Bancorp during the third quarter worth $556,000. Finally, American Century Companies Inc. bought a new stake in Evans Bancorp in the 2nd quarter valued at $337,000. 67.10% of the stock is 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.