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

StockNews.com assumed coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN - Free Report) in a report issued on Wednesday. The brokerage issued a hold rating on the bank's stock.

Separately, Keefe, Bruyette & Woods raised their target price on shares of Evans Bancorp from $42.32 to $45.50 and gave the stock a "market perform" rating in a report on Friday, November 1st.

Evans Bancorp Stock Performance

EVBN traded down $0.22 during trading on Wednesday, hitting $44.08. 15,607 shares of the company traded hands, compared to its average volume of 29,922. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.98 and a current ratio of 0.99. The stock has a market capitalization of $244.20 million, a price-to-earnings ratio of 13.30 and a beta of 0.91. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $45.43.

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

Evans Bancorp Dividend Announcement

The business also recently announced a semi-annual dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 12th were paid a $0.66 dividend. This represents a yield of 3.9%. The ex-dividend date of this dividend was Thursday, September 12th. Evans Bancorp's dividend payout ratio (DPR) is presently 39.64%.

Hedge Funds Weigh In On Evans Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PL Capital Advisors LLC boosted its holdings in shares of Evans Bancorp by 1.1% in the 3rd quarter. PL Capital Advisors LLC now owns 611,759 shares of the bank's stock valued at $23,840,000 after acquiring an additional 6,680 shares during the last quarter. Endeavour Capital Advisors Inc. increased its stake in shares of Evans Bancorp by 56.6% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank's stock valued at $8,394,000 after purchasing an additional 107,954 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Evans Bancorp by 0.6% in 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. Cubist Systematic Strategies LLC purchased a new stake in shares of Evans Bancorp during the second quarter worth approximately $500,000. Finally, American Century Companies Inc. purchased a new position in Evans Bancorp in the 2nd quarter worth approximately $337,000. Hedge funds and other 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.