StockNews.com Initiates Coverage on Evans Bancorp (NYSEAMERICAN:EVBN)

Equities research analysts at StockNews.com assumed coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a report released on Wednesday. The firm set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods raised 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.

Evans Bancorp Stock Performance

EVBN stock opened at $41.83 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $231.74 million, a PE ratio of 12.56 and a beta of 0.92. Evans Bancorp 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 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.13. Evans Bancorp had a net margin of 13.80% and a return on equity of 10.27%. The firm had revenue of $31.69 million for the quarter.

Institutional Trading of Evans Bancorp

Several hedge funds have recently made changes to their positions in the company. American Century Companies Inc. purchased a new stake in shares of Evans Bancorp in the second quarter valued at approximately $337,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Evans Bancorp during the 2nd quarter worth $500,000. Squarepoint Ops LLC acquired a new position in shares of Evans Bancorp during the 2nd quarter worth $237,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Evans Bancorp in the 2nd quarter valued at about $204,000. Finally, Endeavour Capital Advisors Inc. increased its holdings in shares of Evans Bancorp by 56.6% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock valued at $8,394,000 after purchasing an additional 107,954 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.