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 research note issued to investors on Sunday. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upped their price target on Evans Bancorp from $26.50 to $30.50 and gave the company a “market perform” rating in a research report on Thursday, August 1st.

Evans Bancorp Stock Up 2.1 %

Shares of EVBN opened at $39.55 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 52 week low of $24.07 and a 52 week high of $41.18. The stock has a market cap of $218.71 million, a PE ratio of 11.43 and a beta of 0.91.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its quarterly earnings data on Tuesday, July 30th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.15. The business had revenue of $30.22 million for the quarter. Evans Bancorp had a return on equity of 11.20% and a net margin of 14.51%.

Evans Bancorp Dividend Announcement

The company also recently announced a semi-annual dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 12th were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a dividend yield of 3.9%. Evans Bancorp’s payout ratio is currently 38.15%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its stake in shares of 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 purchasing an additional 1,151 shares during the period. Vanguard Group Inc. lifted its stake in Evans Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock valued at $8,400,000 after buying an additional 1,620 shares during the period. Ritholtz Wealth Management acquired a new position in Evans Bancorp in the third quarter valued at about $218,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Evans Bancorp during the second quarter worth about $204,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Evans Bancorp during the 2nd quarter worth about $237,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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.