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

Equities researchers at StockNews.com began coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) in a report issued on Saturday. The firm set a "hold" rating on the bank's stock.

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

Evans Bancorp Stock Up 0.8 %

Shares of EVBN traded up $0.36 during trading hours on Friday, reaching $44.59. 9,540 shares of the company traded hands, compared to its average volume of 13,342. The firm has a market cap of $247.03 million, a P/E ratio of 13.39 and a beta of 0.92. Evans Bancorp has a fifty-two week low of $24.07 and a fifty-two week high of $46.00. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86.

Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $31.69 million during the quarter. Evans Bancorp had a return on equity of 10.27% and a net margin of 13.80%.

Institutional Investors Weigh In On Evans Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Endeavour Capital Advisors Inc. boosted its position in shares of Evans Bancorp by 56.6% in the second quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank's stock worth $8,394,000 after buying an additional 107,954 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Evans Bancorp during the 2nd quarter valued at about $500,000. American Century Companies Inc. purchased a new position in Evans Bancorp during the 2nd quarter valued at about $337,000. Squarepoint Ops LLC purchased a new stake in shares of Evans Bancorp in the second quarter worth approximately $237,000. Finally, Vanguard Group Inc. lifted 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 worth $8,400,000 after purchasing an additional 1,620 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company's stock.

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.