Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Short Interest Update

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN - Get Free Report) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 16,200 shares, a decline of 21.7% from the October 15th total of 20,700 shares. Approximately 0.3% of the company's shares are short sold. Based on an average daily volume of 38,500 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On Evans Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of EVBN. Endeavour Capital Advisors Inc. boosted its stake in 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 acquiring an additional 107,954 shares in the last quarter. PL Capital Advisors LLC boosted its position in shares of Evans Bancorp by 12.4% in the 2nd quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank's stock worth $17,009,000 after purchasing an additional 66,642 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Evans Bancorp in the 2nd quarter worth approximately $500,000. Stifel Financial Corp purchased a new stake in shares of Evans Bancorp in the 3rd quarter worth approximately $556,000. Finally, American Century Companies Inc. bought a new position in Evans Bancorp during the 2nd quarter valued at approximately $337,000. 67.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EVBN has been the topic of several recent analyst reports. StockNews.com began coverage on shares of Evans Bancorp in a research note on Wednesday. They set a "hold" rating on the stock. Keefe, Bruyette & Woods boosted their target price 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 NYSEAMERICAN:EVBN traded down $0.52 during mid-day trading on Friday, hitting $43.28. 14,730 shares of the company traded hands, compared to its average volume of 29,819. The stock has a market cap of $239.77 million, a price-to-earnings ratio of 13.15 and a beta of 0.91. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. Evans Bancorp has a 12-month low of $24.07 and a 12-month high of $45.43.

Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) last released its earnings results 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%.

Evans Bancorp Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 12th were given a $0.66 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a yield of 3.9%. Evans Bancorp's payout ratio is currently 39.64%.

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.