Evans Bancorp (NYSEAMERICAN:EVBN) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com began coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a report issued on Thursday. The brokerage set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods increased 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 Price Performance

EVBN opened at $37.99 on Thursday. The stock has a market capitalization of $210.08 million, a price-to-earnings ratio of 9.92 and a beta of 0.91. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $40.97. 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 announced its earnings results 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. Evans Bancorp had a return on equity of 11.20% and a net margin of 14.51%. The business had revenue of $30.22 million for the quarter.

Insider Buying and Selling at Evans Bancorp

In related news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of the stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average cost of $32.81 per share, with a total value of $219,170.80. Following the acquisition, the insider now directly owns 611,759 shares in the company, valued at $20,071,812.79. The acquisition 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.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. PL Capital Advisors LLC lifted its stake in Evans Bancorp by 12.4% during the second quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank’s stock worth $17,009,000 after purchasing an additional 66,642 shares during the last quarter. Endeavour Capital Advisors Inc. raised its holdings in shares of Evans Bancorp by 56.6% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock worth $8,394,000 after buying an additional 107,954 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Evans Bancorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock worth $8,400,000 after buying an additional 1,620 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Evans Bancorp in the second quarter valued at about $500,000. Finally, American Century Companies Inc. acquired a new stake in Evans Bancorp in the second quarter valued at about $337,000. 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.