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

Analysts at StockNews.com initiated coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a note issued to investors on Wednesday. The firm set a “hold” rating on the bank’s stock.

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

Evans Bancorp Trading Down 0.6 %

NYSEAMERICAN EVBN opened at $43.80 on Wednesday. Evans Bancorp has a 52 week low of $24.07 and a 52 week high of $45.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.98 and a current ratio of 0.99. The firm has a market cap of $242.65 million, a PE ratio of 13.24 and a beta of 0.91.

Evans Bancorp (NYSEAMERICAN:EVBN) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $0.53 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 business had revenue of $31.69 million for the quarter.

Hedge Funds Weigh In On Evans Bancorp

Several institutional investors have recently bought and sold shares of EVBN. BNP Paribas Financial Markets grew its position in Evans Bancorp by 78.1% in the 1st quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock valued at $78,000 after acquiring an additional 1,151 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Evans Bancorp in the 2nd quarter valued at about $204,000. Ritholtz Wealth Management acquired a new position in Evans Bancorp in the 3rd quarter valued at about $218,000. Squarepoint Ops LLC acquired a new position in Evans Bancorp in the 2nd quarter valued at about $237,000. Finally, Prime Capital Investment Advisors LLC acquired a new position in Evans Bancorp in the 3rd quarter valued at about $251,000. 67.10% of the stock is 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.