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

StockNews.com started coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a report published on Wednesday morning. The firm issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods increased their target price on shares of Evans Bancorp from $26.50 to $30.50 and gave the stock a market perform rating in a report on Thursday, August 1st.

Evans Bancorp Trading Up 1.0 %

Evans Bancorp stock opened at $38.47 on Wednesday. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $40.97. The company has a market capitalization of $212.74 million, a PE ratio of 10.04 and a beta of 0.91. 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) last announced its earnings results on Tuesday, July 30th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.38 by $0.15. Evans Bancorp had a net margin of 14.51% and a return on equity of 11.20%. The business had revenue of $30.22 million during the quarter.

Evans Bancorp Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 12th will be paid a $0.66 dividend. This represents a yield of 3.9%. The ex-dividend date is Thursday, September 12th. Evans Bancorp’s dividend payout ratio is currently 34.46%.

Insider Buying and Selling at Evans Bancorp

In other news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average price of $32.81 per share, for a total transaction of $219,170.80. Following the completion of the purchase, the insider now directly owns 611,759 shares in the company, valued at $20,071,812.79. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.34% of the company’s stock.

Institutional Trading of Evans Bancorp

A number of large investors have recently added to or reduced their stakes in EVBN. BNP Paribas Financial Markets raised its position in shares of Evans Bancorp by 78.1% in the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock valued at $78,000 after purchasing an additional 1,151 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Evans Bancorp in the second quarter valued at about $204,000. Squarepoint Ops LLC bought a new position in Evans Bancorp during the second quarter worth about $237,000. American Century Companies Inc. bought a new position in Evans Bancorp during the second quarter worth about $337,000. Finally, Cubist Systematic Strategies LLC bought a new position in Evans Bancorp during the second quarter worth about $500,000. Institutional investors and hedge funds 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.