Evans Bancorp (NYSEAMERICAN:EVBN) Earns Hold Rating from Analysts at StockNews.com

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

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

Evans Bancorp Price Performance

Evans Bancorp stock opened at $40.85 on Wednesday. Evans Bancorp has a 52 week low of $24.07 and a 52 week high of $46.21. The company has a market cap of $226.31 million, a price-to-earnings ratio of 12.27 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 (NYSEAMERICAN:EVBN) 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 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%.

Institutional Investors Weigh In On Evans Bancorp

Several institutional investors have recently made changes to their positions in EVBN. American Century Companies Inc. purchased a new position in Evans Bancorp during the second quarter valued at approximately $337,000. Cubist Systematic Strategies LLC purchased a new position in shares of Evans Bancorp during the 2nd quarter valued at $500,000. Squarepoint Ops LLC purchased a new position in shares of Evans Bancorp during the 2nd quarter valued at $237,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Evans Bancorp in the second quarter worth $204,000. Finally, Endeavour Capital Advisors Inc. boosted its stake in Evans Bancorp by 56.6% during the second quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock valued at $8,394,000 after buying an additional 107,954 shares during the period. 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.