Evans Bancorp (NYSEAMERICAN:EVBN) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note issued to investors on Friday morning. The brokerage issued a hold rating on the bank’s stock.

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

Evans Bancorp Stock Down 0.9 %

EVBN opened at $45.15 on Friday. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $46.21. The firm has a market cap of $250.13 million, a price-to-earnings ratio of 13.56 and a beta of 0.92. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its earnings results on Thursday, October 31st. The bank reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.13. The business had revenue of $31.69 million during the quarter. Evans Bancorp had a return on equity of 10.27% and a net margin of 13.80%.

Hedge Funds Weigh In On Evans Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of EVBN. Vanguard Group Inc. increased its position in shares of Evans Bancorp by 0.6% during the first 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 during the period. Geode Capital Management LLC grew its position in shares of Evans Bancorp by 6.9% during the third quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock worth $2,175,000 after buying an additional 3,583 shares in the last quarter. Barclays PLC raised its holdings in Evans Bancorp by 47.7% in the third quarter. Barclays PLC now owns 16,163 shares of the bank’s stock valued at $630,000 after acquiring an additional 5,218 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Evans Bancorp in the third quarter worth approximately $218,000. Finally, Prime Capital Investment Advisors LLC acquired a new position in Evans Bancorp during the 3rd quarter worth approximately $251,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

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.