Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Short Interest Up 7.6% in September

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN - Get Free Report) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 18,300 shares, an increase of 7.6% from the September 15th total of 17,000 shares. Based on an average daily trading volume, of 26,700 shares, the short-interest ratio is currently 0.7 days. Currently, 0.4% of the company's shares are short sold.

Evans Bancorp Stock Performance

Shares of EVBN traded up $0.19 on Wednesday, reaching $40.75. The stock had a trading volume of 63,445 shares, compared to its average volume of 28,064. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $41.12. The stock has a market cap of $225.35 million, a P/E ratio of 11.72 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 (NYSEAMERICAN:EVBN - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.38 by $0.15. Evans Bancorp had a net margin of 14.51% and a return on equity of 11.20%. The business had revenue of $30.22 million for the quarter.

Evans Bancorp Announces Dividend

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

Insider Transactions at Evans Bancorp

In other news, major shareholder Pl Capital Advisors, Llc bought 6,680 shares of the company's stock in a transaction on Tuesday, July 23rd. The stock was bought at an average cost of $32.81 per share, with a total value of $219,170.80. Following the transaction, the insider now directly owns 611,759 shares in the company, valued at $20,071,812.79. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.34% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Evans Bancorp by 78.1% in the 1st quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank's stock valued at $78,000 after acquiring an additional 1,151 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Evans Bancorp in the second quarter valued at $204,000. Ritholtz Wealth Management purchased a new position in Evans Bancorp during the third quarter worth about $218,000. Squarepoint Ops LLC acquired a new stake in Evans Bancorp in the 2nd quarter worth about $237,000. Finally, American Century Companies Inc. purchased a new stake in Evans Bancorp in the 2nd quarter valued at about $337,000. Institutional investors and hedge funds own 67.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on EVBN shares. StockNews.com began coverage on shares of Evans Bancorp in a research report on Monday. They set a "hold" rating on the stock. Keefe, Bruyette & Woods boosted their price target on 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 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.