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

Analysts at StockNews.com initiated coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) in a note issued to investors on Thursday. 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 company a "market perform" rating in a research report on Friday, November 1st.

Evans Bancorp Trading Down 1.1 %

EVBN stock traded down $0.47 during mid-day trading on Thursday, hitting $43.07. 15,881 shares of the stock were exchanged, compared to its average volume of 28,975. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. The firm has a market cap of $238.61 million, a P/E ratio of 12.93 and a beta of 0.92. Evans Bancorp has a 12 month low of $24.07 and a 12 month high of $46.21.

Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.13. Evans Bancorp had a return on equity of 10.27% and a net margin of 13.80%. The business had revenue of $31.69 million for the quarter.

Institutional Investors Weigh In On Evans Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in shares of Evans Bancorp by 6.9% during the third quarter. Geode Capital Management LLC now owns 55,786 shares of the bank's stock worth $2,175,000 after purchasing an additional 3,583 shares during the period. Barclays PLC boosted its position in shares of Evans Bancorp by 47.7% during 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 in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Evans Bancorp during the 3rd quarter worth about $218,000. Prime Capital Investment Advisors LLC bought a new stake in Evans Bancorp during the 3rd quarter worth about $251,000. Finally, PL Capital Advisors LLC increased its position in Evans Bancorp by 1.1% in the third quarter. PL Capital Advisors LLC now owns 611,759 shares of the bank's stock worth $23,840,000 after purchasing an additional 6,680 shares during the period. 67.10% of the stock is currently owned by institutional investors.

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.