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

by · The Markets Daily

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

Separately, Keefe, Bruyette & Woods raised their price target on shares of Evans Bancorp from $26.50 to $30.50 and gave the company a market perform rating in a report on Thursday, August 1st.

View Our Latest Analysis on Evans Bancorp

Evans Bancorp Stock Up 1.8 %

EVBN stock opened at $39.80 on Tuesday. Evans Bancorp has a 12 month low of $24.07 and a 12 month high of $40.97. The stock has a market capitalization of $220.09 million, a P/E ratio of 11.50 and a beta of 0.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.90.

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

Evans Bancorp Dividend Announcement

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

Insiders Place Their Bets

In related news, major shareholder Pl Capital Advisors, Llc bought 6,680 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $32.81 per share, for a total transaction of $219,170.80. Following the acquisition, the insider now owns 611,759 shares of the company’s stock, valued at approximately $20,071,812.79. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 6.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in shares of Evans Bancorp by 78.1% in 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 during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Evans Bancorp in the 2nd quarter worth approximately $204,000. Ritholtz Wealth Management purchased a new position in Evans Bancorp in the 3rd quarter valued at approximately $218,000. Squarepoint Ops LLC acquired a new position in Evans Bancorp during the second quarter worth $237,000. Finally, American Century Companies Inc. purchased a new stake in Evans Bancorp during the second quarter worth $337,000. 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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