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

StockNews.com began coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN - Free Report) in a research note issued to investors on Monday. The firm issued a hold rating on the bank's stock.

Separately, Keefe, Bruyette & Woods increased their target price on Evans Bancorp from $26.50 to $30.50 and gave the company a market perform rating in a research note on Thursday, August 1st.

Evans Bancorp Stock Performance

NYSEAMERICAN:EVBN traded up $0.29 on Monday, hitting $40.09. 48,469 shares of the stock were exchanged, compared to its average volume of 27,394. The firm has a market capitalization of $221.70 million, a PE ratio of 11.50 and a beta of 0.91. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.98 and a quick ratio of 0.98. Evans Bancorp has a fifty-two week low of $24.07 and a fifty-two week high of $40.97.

Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.38 by $0.15. The company had revenue of $30.22 million during the quarter. Evans Bancorp had a return on equity of 11.20% and a net margin of 14.51%.

Evans Bancorp Dividend Announcement

The company also recently announced a semi-annual dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 12th were issued a dividend of $0.66 per share. This represents a yield of 3.9%. The ex-dividend date was Thursday, September 12th. Evans Bancorp's dividend payout ratio is presently 38.15%.

Insider Buying and Selling

In related news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of the business's stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average price of $32.81 per share, with a total value of $219,170.80. Following the acquisition, the insider now owns 611,759 shares in the company, valued at approximately $20,071,812.79. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.34% of the company's stock.

Institutional Trading of Evans Bancorp

Several large investors have recently added to or reduced their stakes in EVBN. Endeavour Capital Advisors Inc. increased its position in Evans Bancorp by 56.6% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank's stock valued at $8,394,000 after acquiring an additional 107,954 shares during the period. PL Capital Advisors LLC increased 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 purchasing an additional 66,642 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Evans Bancorp during the 2nd quarter valued at $500,000. American Century Companies Inc. acquired a new position in shares of Evans Bancorp during the 2nd quarter valued at $337,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Evans Bancorp during the 2nd quarter valued at $237,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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.