Evans Bancorp (NYSEAMERICAN:EVBN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research report released on Sunday morning. The brokerage issued a hold rating on the bank’s stock.

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

Evans Bancorp Price Performance

EVBN opened at $43.71 on Friday. The company has a market capitalization of $242.15 million, a price-to-earnings ratio of 13.13 and a beta of 0.92. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $46.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Oddo BHF Asset Management Sas purchased a new position in Evans Bancorp in the 3rd quarter valued at $5,599,000. Barclays PLC boosted its holdings in shares of 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 acquiring an additional 5,218 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Evans Bancorp by 6.9% during the third quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock worth $2,175,000 after acquiring an additional 3,583 shares during the period. Stifel Financial Corp purchased a new position in Evans Bancorp during the third quarter worth about $556,000. Finally, De Lisle Partners LLP lifted its position in Evans Bancorp by 30.3% in the third quarter. De Lisle Partners LLP now owns 46,943 shares of the bank’s stock valued at $1,829,000 after purchasing an additional 10,908 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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.