State Street Corp Has $668,000 Position in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN)

State Street Corp lowered its position in shares of Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) by 8.2% during the third quarter, Holdings Channel.com reports. The firm owned 16,820 shares of the bank’s stock after selling 1,500 shares during the quarter. State Street Corp’s holdings in Evans Bancorp were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Endeavour Capital Advisors Inc. lifted its position in shares of Evans Bancorp by 56.6% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock valued at $8,394,000 after acquiring an additional 107,954 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Evans Bancorp during the second quarter worth about $500,000. Stifel Financial Corp acquired a new stake in Evans Bancorp during the third quarter worth about $556,000. American Century Companies Inc. bought a new position in Evans Bancorp in the 2nd quarter valued at about $337,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Evans Bancorp in the 2nd quarter valued at approximately $237,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EVBN shares. Keefe, Bruyette & Woods lifted their price objective 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. StockNews.com began coverage on Evans Bancorp in a research note on Wednesday, December 25th. They issued a “hold” rating on the stock.

Evans Bancorp Trading Up 1.8 %

EVBN stock opened at $43.45 on Friday. The company has a market cap of $240.71 million, a P/E ratio of 13.05 and a beta of 0.92. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. Evans Bancorp, Inc. has a 1 year low of $24.07 and a 1 year high of $46.21.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its quarterly 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%.

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.