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

by · The Cerbat Gem

StockNews.com assumed coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN – Free Report) in a report released on Monday morning. The brokerage issued a hold rating on the bank’s stock.

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

View Our Latest Report on EVBN

Evans Bancorp Stock Up 0.5 %

EVBN opened at $40.75 on Monday. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $41.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.90. The firm has a market cap of $225.35 million, a price-to-earnings ratio of 11.78 and a beta of 0.91.

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

Evans Bancorp Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 12th were issued a $0.66 dividend. The ex-dividend date was Thursday, September 12th. This represents a dividend yield of 3.9%. Evans Bancorp’s payout ratio is currently 38.15%.

Insider Buying and Selling

In related news, major shareholder Pl Capital Advisors, Llc acquired 6,680 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average price of $32.81 per share, for a total transaction of $219,170.80. Following the transaction, the insider now owns 611,759 shares in the company, valued at $20,071,812.79. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 6.34% of the stock is owned by company insiders.

Institutional Trading of Evans Bancorp

Several institutional investors have recently added to or reduced their stakes in EVBN. Ritholtz Wealth Management bought a new stake in Evans Bancorp in the third quarter valued at approximately $218,000. Cubist Systematic Strategies LLC bought a new stake in Evans Bancorp during the 2nd quarter valued at $500,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Evans Bancorp during the 2nd quarter valued at $204,000. Endeavour Capital Advisors Inc. boosted its position in Evans Bancorp by 56.6% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock valued at $8,394,000 after buying an additional 107,954 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in Evans Bancorp in the 2nd quarter worth $237,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

About Evans Bancorp

(Get Free Report)

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.

Recommended Stories