Short Interest in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Decreases By 69.2%

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN - Get Free Report) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 26,900 shares, a decline of 69.2% from the December 15th total of 87,200 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 31,700 shares, the short-interest ratio is currently 0.8 days.

Evans Bancorp Stock Performance

Shares of NYSEAMERICAN:EVBN traded up $0.47 during midday trading on Monday, hitting $41.32. 24,992 shares of the stock were exchanged, compared to its average volume of 21,113. The company has a market cap of $228.91 million, a P/E ratio of 12.41 and a beta of 0.92. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $46.21. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. The stock's fifty day moving average is $43.71.

Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.13. The firm had revenue of $31.69 million for the quarter. Evans Bancorp had a net margin of 13.80% and a return on equity of 10.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on Evans Bancorp from $42.32 to $45.50 and gave the company a "market perform" rating in a report on Friday, November 1st. StockNews.com initiated coverage on shares of Evans Bancorp in a research note on Wednesday, January 8th. They issued a "hold" rating for the company.

Institutional Investors Weigh In On Evans Bancorp

A number of large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in Evans Bancorp by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,503 shares of the bank's stock valued at $370,000 after buying an additional 1,511 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Evans Bancorp by 6.9% in the third quarter. Geode Capital Management LLC now owns 55,786 shares of the bank's stock worth $2,175,000 after acquiring an additional 3,583 shares during the last quarter. Barclays PLC grew its stake in shares of Evans Bancorp by 47.7% in the third quarter. Barclays PLC now owns 16,163 shares of the bank's stock worth $630,000 after acquiring an additional 5,218 shares during the last quarter. Ritholtz Wealth Management bought a new position in Evans Bancorp during the third quarter worth $218,000. Finally, Prime Capital Investment Advisors LLC acquired a new position in Evans Bancorp during the 3rd quarter valued at $251,000. Institutional investors own 67.10% of the company's stock.

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.

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