Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Sees Significant Growth in Short Interest

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 20,700 shares, an increase of 13.1% from the September 30th total of 18,300 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average trading volume of 29,400 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

EVBN has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Evans Bancorp in a research note on Saturday, October 26th. They set a “hold” rating for the company. Keefe, Bruyette & Woods raised their price objective on shares of Evans Bancorp from $26.50 to $30.50 and gave the company a “market perform” rating in a research note on Thursday, August 1st.

Evans Bancorp Trading Down 0.5 %

EVBN traded down $0.20 during trading hours on Thursday, hitting $39.82. The company’s stock had a trading volume of 11,434 shares, compared to its average volume of 28,510. Evans Bancorp has a 12 month low of $24.07 and a 12 month high of $41.18. The stock has a market capitalization of $220.20 million, a PE ratio of 11.51 and a beta of 0.91. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.98 and a current ratio of 0.98.

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

Evans Bancorp Announces Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 12th were paid a $0.66 dividend. This represents a yield of 3.9%. The ex-dividend date of this dividend was Thursday, September 12th. Evans Bancorp’s dividend payout ratio (DPR) is presently 38.15%.

Institutional Trading of Evans Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Endeavour Capital Advisors Inc. raised its holdings in Evans Bancorp by 56.6% in the second quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock worth $8,394,000 after purchasing an additional 107,954 shares in the last quarter. PL Capital Advisors LLC increased its holdings in shares of Evans Bancorp by 12.4% during the second quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank’s stock valued at $17,009,000 after acquiring an additional 66,642 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Evans Bancorp during the second quarter valued at about $500,000. American Century Companies Inc. acquired a new position in shares of Evans Bancorp during the second quarter valued at about $337,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Evans Bancorp during the second quarter valued at about $237,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

About Evans Bancorp

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.