Short Interest in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Increases By 7.6%

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 18,300 shares, an increase of 7.6% from the September 15th total of 17,000 shares. Based on an average daily volume of 26,700 shares, the short-interest ratio is presently 0.7 days. Approximately 0.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EVBN shares. StockNews.com started coverage on shares of Evans Bancorp in a report on Monday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Evans Bancorp from $26.50 to $30.50 and gave the stock a “market perform” rating in a research note on Thursday, August 1st.

Insider Activity

In other Evans Bancorp news, major shareholder Pl Capital Advisors, Llc bought 6,680 shares of the stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average price of $32.81 per share, with a total value of $219,170.80. Following the completion of the purchase, the insider now owns 611,759 shares in the company, valued at $20,071,812.79. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.34% of the company’s stock.

Institutional Investors Weigh In On Evans Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. PL Capital Advisors LLC grew its holdings in 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 buying an additional 66,642 shares in the last quarter. Endeavour Capital Advisors Inc. boosted its holdings in Evans Bancorp by 56.6% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock worth $8,394,000 after acquiring an additional 107,954 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Evans Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock worth $8,400,000 after acquiring an additional 1,620 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Evans Bancorp in the second quarter valued at about $500,000. Finally, American Century Companies Inc. bought a new position in shares of Evans Bancorp during the second quarter valued at about $337,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Evans Bancorp Trading Up 1.2 %

NYSEAMERICAN:EVBN opened at $40.56 on Wednesday. The firm has a market capitalization of $224.30 million, a PE ratio of 11.72 and a beta of 0.91. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $41.12. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.98 and a quick ratio of 0.98.

Evans Bancorp (NYSEAMERICAN:EVBN) last issued its earnings results on Tuesday, July 30th. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.38 by $0.15. Evans Bancorp had a return on equity of 11.20% and a net margin of 14.51%. The company had revenue of $30.22 million during the quarter.

Evans Bancorp Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 12th were paid a $0.66 dividend. This represents a dividend yield of 3.9%. The ex-dividend date was Thursday, September 12th. Evans Bancorp’s dividend payout ratio (DPR) is 38.15%.

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.