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

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

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

Evans Bancorp Stock Performance

Evans Bancorp stock traded down $0.28 during mid-day trading on Friday, reaching $39.54. The stock had a trading volume of 14,151 shares, compared to its average volume of 28,442. The stock has a market cap of $218.66 million, a price-to-earnings ratio of 11.43 and a beta of 0.91. Evans Bancorp has a one year low of $24.07 and a one year high of $41.18. 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 (NYSEAMERICAN:EVBN - Get Free Report) last posted its earnings results on Tuesday, July 30th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.15. The business had revenue of $30.22 million for the quarter. Evans Bancorp had a net margin of 14.51% and a return on equity of 11.20%.

Evans Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EVBN. BNP Paribas Financial Markets lifted its position in Evans Bancorp by 78.1% in the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank's stock worth $78,000 after buying an additional 1,151 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Evans Bancorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 281,299 shares of the bank's stock valued at $8,400,000 after purchasing an additional 1,620 shares during the period. Ritholtz Wealth Management purchased a new stake in shares of Evans Bancorp during the third quarter valued at $218,000. PL Capital Advisors LLC boosted its stake in shares of Evans Bancorp by 1.1% during the third quarter. PL Capital Advisors LLC now owns 611,759 shares of the bank's stock valued at $23,840,000 after purchasing an additional 6,680 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Evans Bancorp during the second quarter valued at $204,000. 67.10% of the stock is currently owned by 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.