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

StockNews.com began coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a report released on Thursday morning. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods boosted 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 Price Performance

Shares of NYSEAMERICAN:EVBN opened at $43.30 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $239.45 million, a price-to-earnings ratio of 13.00 and a beta of 0.91. Evans Bancorp has a 12-month low of $24.07 and a 12-month high of $44.42.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.13. Evans Bancorp had a net margin of 13.80% and a return on equity of 10.40%. The business had revenue of $31.69 million for the quarter.

Evans Bancorp Announces Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 12th were issued a dividend of $0.66 per share. This represents a dividend yield of 3.9%. The ex-dividend date was Thursday, September 12th. Evans Bancorp’s payout ratio is currently 39.64%.

Hedge Funds Weigh In On Evans Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Prime Capital Investment Advisors LLC acquired a new stake in Evans Bancorp in the third quarter valued at approximately $251,000. PL Capital Advisors LLC grew its holdings in Evans Bancorp by 1.1% during the 3rd quarter. PL Capital Advisors LLC now owns 611,759 shares of the bank’s stock valued at $23,840,000 after purchasing an additional 6,680 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in Evans Bancorp during the 3rd quarter worth $218,000. Cubist Systematic Strategies LLC acquired a new position in Evans Bancorp in the 2nd quarter worth $500,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Evans Bancorp in the 2nd quarter valued at about $204,000. 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.