Evans Bancorp (NYSEAMERICAN:EVBN) Earns Hold Rating from Analysts at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research report issued on Wednesday. The brokerage set 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 stock a “market perform” rating in a report on Friday, November 1st.

Evans Bancorp Stock Up 1.0 %

Shares of EVBN opened at $44.27 on Wednesday. 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 $245.26 million, a PE ratio of 13.29 and a beta of 0.92. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $46.21.

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

Institutional Investors Weigh In On Evans Bancorp

Several hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Evans Bancorp during the second quarter worth $204,000. Ritholtz Wealth Management acquired a new stake in shares of Evans Bancorp during the 3rd quarter worth about $218,000. Squarepoint Ops LLC bought a new stake in shares of Evans Bancorp during the 2nd quarter worth about $237,000. Prime Capital Investment Advisors LLC acquired a new position in Evans Bancorp in the 3rd quarter valued at about $251,000. Finally, American Century Companies Inc. bought a new position in Evans Bancorp in the 2nd quarter valued at about $337,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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.