Evans Bancorp (NYSEAMERICAN:EVBN) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) in a research report issued on Wednesday. The brokerage set a "hold" rating on the bank's stock.

Separately, Keefe, Bruyette & Woods increased their target price on shares of 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 Performance

Shares of EVBN stock traded up $0.43 during mid-day trading on Wednesday, reaching $44.27. 8,912 shares of the stock traded hands, compared to its average volume of 28,992. The firm has a market capitalization of $245.26 million, a price-to-earnings ratio of 13.29 and a beta of 0.92. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $46.21.

Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.13. The company 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%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EVBN. Geode Capital Management LLC grew its stake in shares of Evans Bancorp by 6.9% during the 3rd 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 period. Barclays PLC lifted its holdings in Evans Bancorp by 47.7% during the third quarter. Barclays PLC now owns 16,163 shares of the bank's stock valued at $630,000 after purchasing an additional 5,218 shares during the last quarter. Ritholtz Wealth Management bought a new position in Evans Bancorp during the third quarter worth about $218,000. Prime Capital Investment Advisors LLC bought a new position in Evans Bancorp during the third quarter worth about $251,000. Finally, PL Capital Advisors LLC increased its stake in shares of Evans Bancorp by 1.1% in the third quarter. PL Capital Advisors LLC now owns 611,759 shares of the bank's stock worth $23,840,000 after purchasing an additional 6,680 shares in the last quarter. 67.10% of the stock is owned by institutional investors.

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.