Evans Bancorp (NYSEAMERICAN:EVBN) Coverage Initiated at StockNews.com

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

Separately, Keefe, Bruyette & Woods increased 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 Stock Down 1.1 %

Evans Bancorp stock opened at $43.07 on Thursday. The company has a market cap of $238.61 million, a price-to-earnings ratio of 12.93 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 twelve month low of $24.07 and a twelve month 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, beating analysts’ consensus estimates of $0.40 by $0.13. The firm had revenue of $31.69 million for the quarter. Evans Bancorp had a net margin of 13.80% and a return on equity of 10.27%.

Hedge Funds Weigh In On Evans Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Ritholtz Wealth Management acquired a new position in shares of Evans Bancorp in the third quarter worth $218,000. Prime Capital Investment Advisors LLC acquired a new position in Evans Bancorp in the 3rd quarter valued at about $251,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Evans Bancorp in the 2nd quarter valued at about $204,000. Squarepoint Ops LLC acquired a new stake in shares of Evans Bancorp during the 2nd quarter worth about $237,000. Finally, American Century Companies Inc. purchased a new stake in shares of Evans Bancorp during the second quarter worth about $337,000. 67.10% of the stock is currently 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.