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

StockNews.com assumed coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research report issued on Thursday. The brokerage set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Evans Bancorp from $26.50 to $30.50 and gave the company a “market perform” rating in a research report on Thursday, August 1st.

Evans Bancorp Stock Performance

Shares of EVBN opened at $37.99 on Thursday. Evans Bancorp has a one year low of $24.07 and a one year high of $40.97. The stock has a market capitalization of $210.08 million, a PE ratio of 9.92 and a beta of 0.91. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.98 and a quick ratio of 0.98.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its quarterly earnings data on Tuesday, July 30th. The bank reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.15. The firm had revenue of $30.22 million during the quarter. Evans Bancorp had a return on equity of 11.20% and a net margin of 14.51%.

Insider Activity

In related news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average cost of $32.81 per share, with a total value of $219,170.80. Following the transaction, the insider now owns 611,759 shares of the company’s stock, valued at approximately $20,071,812.79. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.34% of the company’s stock.

Institutional Trading of Evans Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of EVBN. BNP Paribas Financial Markets increased its holdings in Evans Bancorp by 78.1% during the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after buying an additional 1,151 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Evans Bancorp during the 2nd quarter worth approximately $204,000. Squarepoint Ops LLC purchased a new stake in shares of Evans Bancorp during the 2nd quarter worth approximately $237,000. American Century Companies Inc. bought a new stake in shares of Evans Bancorp in the 2nd quarter worth approximately $337,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Evans Bancorp in the second quarter valued at 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.