Cubist Systematic Strategies LLC Acquires New Holdings in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN)

Cubist Systematic Strategies LLC purchased a new position in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,799 shares of the bank's stock, valued at approximately $500,000. Cubist Systematic Strategies LLC owned 0.32% of Evans Bancorp at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in Evans Bancorp by 78.1% during the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank's stock worth $78,000 after acquiring an additional 1,151 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Evans Bancorp during the 2nd quarter worth approximately $337,000. Vanguard Group Inc. lifted its stake in 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 buying an additional 1,620 shares in the last quarter. Finally, PL Capital Advisors LLC grew its holdings 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 buying an additional 15,788 shares during the last quarter. 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 purchased 6,680 shares of the company's 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 transaction, the insider now owns 611,759 shares of the company's stock, valued at $20,071,812.79. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.34% of the stock is currently owned by corporate insiders.

Evans Bancorp Stock Up 1.0 %

NYSEAMERICAN:EVBN traded up $0.39 during trading hours on Friday, hitting $38.47. The stock had a trading volume of 35,966 shares, compared to its average volume of 27,579. The company has a market capitalization of $212.74 million, a price-to-earnings ratio of 10.04 and a beta of 0.91. Evans Bancorp, Inc. has a 1-year low of $24.07 and a 1-year high of $40.97. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.90.

Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The bank reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.15. Evans Bancorp had a net margin of 14.51% and a return on equity of 11.20%. The company had revenue of $30.22 million during the quarter.

Evans Bancorp Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 12th will be paid a dividend of $0.66 per share. This represents a yield of 3.9%. The ex-dividend date is Thursday, September 12th. Evans Bancorp's dividend payout ratio (DPR) is presently 34.46%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Evans Bancorp in a report on Wednesday. They set a "hold" rating for the company. Keefe, Bruyette & Woods lifted their target price on shares of Evans Bancorp from $26.50 to $30.50 and gave the stock a "market perform" rating in a research note 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.