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

Investment analysts at StockNews.com began coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) in a note issued to investors on Friday. The brokerage set a "hold" rating on the bank's stock.

Separately, 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 research report on Friday, November 1st.

Evans Bancorp Trading Down 0.9 %

NYSEAMERICAN EVBN traded down $0.43 during trading on Friday, reaching $45.15. 34,484 shares of the company's stock were exchanged, compared to its average volume of 28,786. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86. Evans Bancorp has a fifty-two week low of $24.07 and a fifty-two week high of $46.21. The firm has a market capitalization of $250.13 million, a PE ratio of 13.56 and a beta of 0.92.

Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $0.53 EPS for the quarter, beating 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 business had revenue of $31.69 million for the quarter.

Hedge Funds Weigh In On Evans Bancorp

Several hedge funds have recently added to or reduced their stakes in EVBN. Oddo BHF Asset Management Sas bought a new position in shares of Evans Bancorp in the 3rd quarter worth $5,599,000. Barclays PLC raised its position in shares of Evans Bancorp by 47.7% in the 3rd quarter. Barclays PLC now owns 16,163 shares of the bank's stock valued at $630,000 after acquiring an additional 5,218 shares during the period. Geode Capital Management LLC boosted its stake in Evans Bancorp by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 55,786 shares of the bank's stock worth $2,175,000 after acquiring an additional 3,583 shares during the last quarter. Stifel Financial Corp acquired a new stake in Evans Bancorp in the third quarter worth $556,000. Finally, De Lisle Partners LLP boosted its position in shares of Evans Bancorp by 30.3% during the third quarter. De Lisle Partners LLP now owns 46,943 shares of the bank's stock worth $1,829,000 after purchasing an additional 10,908 shares in the last quarter. 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.