Evans Bancorp (NYSEAMERICAN:EVBN) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note released on Sunday. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods raised their target price on shares of Evans Bancorp from $26.50 to $30.50 and gave the company a “market perform” rating in a research note on Thursday, August 1st.

Evans Bancorp Price Performance

Shares of NYSEAMERICAN:EVBN opened at $39.90 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.98 and a current ratio of 0.98. Evans Bancorp has a 12 month low of $24.07 and a 12 month high of $41.18. The stock has a market cap of $220.65 million, a price-to-earnings ratio of 11.53 and a beta of 0.91.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its quarterly earnings data on Tuesday, July 30th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.15. Evans Bancorp had a net margin of 14.51% and a return on equity of 11.20%. The firm had revenue of $30.22 million for the quarter.

Evans Bancorp Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 12th were issued 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 is presently 38.15%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EVBN. BNP Paribas Financial Markets grew its holdings in shares of Evans Bancorp by 78.1% during the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after purchasing an additional 1,151 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Evans Bancorp during the 2nd quarter worth approximately $204,000. Ritholtz Wealth Management acquired a new position in Evans Bancorp in the 3rd quarter valued at approximately $218,000. Squarepoint Ops LLC acquired a new position in shares of Evans Bancorp during the second quarter worth $237,000. Finally, American Century Companies Inc. acquired a new stake in Evans Bancorp in the second quarter valued at $337,000. Institutional investors 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.