Endeavour Capital Advisors Inc. Increases Stock Position in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN)

Endeavour Capital Advisors Inc. grew its stake in shares of Evans Bancorp, Inc. (NYSEAMERICAN:EVBN - Free Report) by 56.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,624 shares of the bank's stock after acquiring an additional 107,954 shares during the quarter. Evans Bancorp comprises approximately 2.9% of Endeavour Capital Advisors Inc.'s investment portfolio, making the stock its 14th largest holding. Endeavour Capital Advisors Inc. owned about 5.41% of Evans Bancorp worth $8,394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of EVBN. BNP Paribas Financial Markets increased its holdings in shares of Evans Bancorp by 78.1% in the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank's stock valued at $78,000 after purchasing an additional 1,151 shares during the period. PL Capital Advisors LLC lifted its stake in Evans Bancorp by 3.0% during the 1st quarter. PL Capital Advisors LLC now owns 538,437 shares of the bank's stock valued at $16,078,000 after acquiring an additional 15,788 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Evans Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 281,299 shares of the bank's stock valued at $8,400,000 after acquiring an additional 1,620 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Evans Bancorp in the second quarter worth $337,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Evans Bancorp during the second quarter worth $500,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Pl Capital Advisors, Llc acquired 6,680 shares of Evans Bancorp stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average cost of $32.81 per share, for a total transaction of $219,170.80. Following the completion of the purchase, the insider now owns 611,759 shares in the company, valued at $20,071,812.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.34% of the company's stock.

Evans Bancorp Stock Down 0.3 %

NYSEAMERICAN EVBN traded down $0.10 during trading hours on Thursday, hitting $38.35. 22,173 shares of the company's stock traded hands, compared to its average volume of 27,768. The stock has a market cap of $212.08 million, a PE ratio of 10.01 and a beta of 0.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.90. Evans Bancorp, Inc. has a 52-week low of $24.07 and a 52-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 earnings per share for the quarter, beating 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 firm had revenue of $30.22 million for the quarter.

Evans Bancorp Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 12th will be given a $0.66 dividend. This represents a yield of 3.9%. The ex-dividend date is Thursday, September 12th. Evans Bancorp's dividend payout ratio is currently 34.46%.

Wall Street Analysts Forecast Growth

EVBN has been the subject of a number of analyst reports. StockNews.com began coverage on Evans Bancorp in a report on Thursday. They issued a "hold" rating for the company. Keefe, Bruyette & Woods increased their price target on shares of Evans Bancorp from $26.50 to $30.50 and gave the stock a "market perform" rating in a report on Thursday, August 1st.

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.