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 report released on Wednesday morning. The firm issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upped their price objective 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 Stock Down 1.2 %

Shares of EVBN stock opened at $43.28 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $239.77 million, a P/E ratio of 13.00 and a beta of 0.91. Evans Bancorp has a 52 week low of $24.07 and a 52 week high of $45.43.

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

Evans Bancorp Announces Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 12th were paid a $0.66 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a dividend yield of 3.9%. Evans Bancorp’s dividend payout ratio (DPR) is currently 39.64%.

Institutional Investors Weigh In On Evans Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Endeavour Capital Advisors Inc. lifted its position in Evans Bancorp by 56.6% during the second quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock valued at $8,394,000 after purchasing an additional 107,954 shares in the last quarter. PL Capital Advisors LLC lifted its position in shares of Evans Bancorp by 12.4% during the 2nd quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank’s stock valued at $17,009,000 after buying an additional 66,642 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Evans Bancorp during the 2nd quarter valued at approximately $500,000. Stifel Financial Corp purchased a new stake in Evans Bancorp in the 3rd quarter worth approximately $556,000. Finally, American Century Companies Inc. bought a new stake in Evans Bancorp during the 2nd quarter worth approximately $337,000. Hedge funds and other 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.