Evans Bancorp (NYSEAMERICAN:EVBN) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note released on Friday. The firm issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upped their price target 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 Stock Performance

NYSEAMERICAN EVBN opened at $39.49 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.98 and a quick ratio of 0.98. Evans Bancorp has a fifty-two week low of $24.07 and a fifty-two week high of $40.97. The firm has a market cap of $218.38 million, a price-to-earnings ratio of 10.31 and a beta of 0.91.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its earnings results on Tuesday, July 30th. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.15. Evans Bancorp had a return on equity of 11.20% and a net margin of 14.51%. The firm had revenue of $30.22 million during the quarter.

Evans Bancorp Dividend Announcement

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

Insider Transactions at Evans Bancorp

In related news, major shareholder Pl Capital Advisors, Llc acquired 6,680 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average price of $32.81 per share, with a total value of $219,170.80. Following the transaction, the insider now directly owns 611,759 shares of the company’s stock, valued at $20,071,812.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.34% of the company’s stock.

Hedge Funds Weigh In On Evans Bancorp

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its position in Evans Bancorp by 78.1% in the 1st quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock valued at $78,000 after acquiring an additional 1,151 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Evans Bancorp in the 2nd quarter valued at about $204,000. Squarepoint Ops LLC bought a new position in shares of Evans Bancorp during the 2nd quarter worth approximately $237,000. American Century Companies Inc. bought a new position in shares of Evans Bancorp during the 2nd quarter worth approximately $337,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Evans Bancorp during the 2nd quarter worth approximately $500,000. 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.