Evans Bancorp (NYSEAMERICAN:EVBN) Given New $45.50 Price Target at Keefe, Bruyette & Woods

Evans Bancorp (NYSEAMERICAN:EVBN) had its price target increased by equities research analysts at Keefe, Bruyette & Woods from $42.32 to $45.50 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 14.90% from the company’s current price.

Separately, StockNews.com assumed coverage on Evans Bancorp in a research note on Friday. They issued a “hold” rating on the stock.

Evans Bancorp Trading Down 0.6 %

Shares of EVBN traded down $0.22 during mid-day trading on Friday, reaching $39.60. 1,631 shares of the stock traded hands, compared to its average volume of 28,382. Evans Bancorp has a 12-month low of $24.07 and a 12-month high of $41.18. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $218.99 million, a P/E ratio of 11.45 and a beta of 0.91.

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

Hedge Funds Weigh In On Evans Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of EVBN. BNP Paribas Financial Markets raised its stake in shares of Evans Bancorp by 78.1% during the first 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Evans Bancorp during the 2nd quarter worth about $204,000. Ritholtz Wealth Management acquired a new stake in shares of Evans Bancorp in the 3rd quarter worth approximately $218,000. Squarepoint Ops LLC bought a new position in shares of Evans Bancorp in the second quarter valued at approximately $237,000. Finally, American Century Companies Inc. bought a new position in shares of Evans Bancorp in the second quarter valued at approximately $337,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.