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

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

Separately, Keefe, Bruyette & Woods upped their price target on shares of 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 Trading Down 0.6 %

EVBN stock opened at $43.80 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.86. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $45.43. The firm has a market cap of $242.65 million, a price-to-earnings ratio of 13.24 and a beta of 0.91.

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

Hedge Funds Weigh In On Evans Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. De Lisle Partners LLP raised its position in shares of Evans Bancorp by 30.3% in the 3rd 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 last quarter. Prime Capital Investment Advisors LLC acquired a new position in Evans Bancorp in the 3rd quarter worth approximately $251,000. PL Capital Advisors LLC increased its holdings in Evans Bancorp by 1.1% in the 3rd quarter. PL Capital Advisors LLC now owns 611,759 shares of the bank’s stock worth $23,840,000 after buying an additional 6,680 shares during the period. Ritholtz Wealth Management acquired a new position in Evans Bancorp in the 3rd quarter worth approximately $218,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Evans Bancorp in the 2nd quarter worth approximately $500,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

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.