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

StockNews.com initiated coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note issued on Wednesday. The firm set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upped their target price 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 Stock Performance

NYSEAMERICAN EVBN opened at $44.21 on Wednesday. The stock has a market capitalization of $244.92 million, a price-to-earnings ratio of 13.28 and a beta of 0.92. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. Evans Bancorp has a 52 week low of $24.07 and a 52 week high of $46.21.

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, 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 10.27%. The firm had revenue of $31.69 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas bought a new position in shares of Evans Bancorp during the third quarter worth about $5,599,000. Endeavour Capital Advisors Inc. raised its position in shares of Evans Bancorp by 56.6% during the second quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock worth $8,394,000 after purchasing an additional 107,954 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Evans Bancorp during the 2nd quarter valued at $500,000. Stifel Financial Corp purchased a new stake in shares of Evans Bancorp in the third quarter worth approximately $556,000. Finally, American Century Companies Inc. bought a new stake in shares of Evans Bancorp in the 2nd quarter worth $337,000. Institutional investors own 67.10% of the company’s stock.

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.