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

by · The Markets Daily

StockNews.com initiated coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN – Free Report) in a research note issued to investors on Thursday. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods raised their price target on Evans Bancorp from $42.32 to $45.50 and gave the stock a “market perform” rating in a research note on Friday, November 1st.

Check Out Our Latest Stock Analysis on EVBN

Evans Bancorp Trading Up 2.3 %

Shares of NYSEAMERICAN EVBN opened at $44.07 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. The stock has a market cap of $244.15 million, a PE ratio of 13.23 and a beta of 0.92. Evans Bancorp has a 12 month low of $24.07 and a 12 month high of $46.21.

Evans Bancorp (NYSEAMERICAN:EVBN – Get Free Report) last released its earnings results on Thursday, October 31st. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.40 by $0.13. Evans Bancorp had a net margin of 13.80% and a return on equity of 10.27%. The firm had revenue of $31.69 million during the quarter.

Institutional Trading of Evans Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of EVBN. Geode Capital Management LLC increased its stake in Evans Bancorp by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock worth $2,175,000 after buying an additional 3,583 shares during the period. Barclays PLC boosted its holdings in Evans Bancorp by 47.7% in the third quarter. Barclays PLC now owns 16,163 shares of the bank’s stock valued at $630,000 after purchasing an additional 5,218 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in Evans Bancorp during the 3rd quarter valued at approximately $218,000. Prime Capital Investment Advisors LLC purchased a new stake in Evans Bancorp during the 3rd quarter worth approximately $251,000. Finally, PL Capital Advisors LLC raised its position in shares of Evans Bancorp by 1.1% in the 3rd quarter. PL Capital Advisors LLC now owns 611,759 shares of the bank’s stock valued at $23,840,000 after purchasing an additional 6,680 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Evans Bancorp Company Profile

(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.

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