Evans Bancorp (NYSEAMERICAN:EVBN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note released on Tuesday 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 company a “market perform” rating in a research report on Friday, November 1st.

Evans Bancorp Price Performance

NYSEAMERICAN:EVBN opened at $43.60 on Tuesday. The stock has a market cap of $241.54 million, a price-to-earnings ratio of 13.09 and a beta of 0.91. 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 current ratio of 0.99 and a quick ratio of 0.99.

Evans Bancorp (NYSEAMERICAN:EVBN) last posted its quarterly earnings results 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. 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%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of Evans Bancorp by 47.7% in the third quarter. Barclays PLC now owns 16,163 shares of the bank’s stock worth $630,000 after buying an additional 5,218 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Evans Bancorp by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock valued at $2,175,000 after acquiring an additional 3,583 shares during the period. Stifel Financial Corp purchased a new position in Evans Bancorp in the 3rd quarter worth $556,000. De Lisle Partners LLP increased its holdings in shares of Evans Bancorp by 30.3% in the third quarter. De Lisle Partners LLP now owns 46,943 shares of the bank’s stock valued at $1,829,000 after purchasing an additional 10,908 shares during the period. Finally, Prime Capital Investment Advisors LLC purchased a new position in shares of Evans Bancorp in the third quarter worth about $251,000. 67.10% of the stock is owned by institutional investors and hedge funds.

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.