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

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

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

Evans Bancorp Stock Up 1.0 %

Shares of NYSEAMERICAN:EVBN opened at $38.47 on Wednesday. The stock has a market capitalization of $212.74 million, a PE ratio of 10.04 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 has a fifty-two week low of $24.07 and a fifty-two week high of $40.97.

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

Evans Bancorp Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 12th will be issued a dividend of $0.66 per share. This represents a yield of 3.9%. The ex-dividend date is Thursday, September 12th. Evans Bancorp’s dividend payout ratio is currently 34.46%.

Insider Buying and Selling

In other Evans Bancorp news, major shareholder Pl Capital Advisors, Llc bought 6,680 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average price of $32.81 per share, for a total transaction of $219,170.80. Following the completion of the transaction, the insider now owns 611,759 shares in the company, valued at approximately $20,071,812.79. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Evans Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVBN. BNP Paribas Financial Markets raised its position 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 buying an additional 1,151 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Evans Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock valued at $8,400,000 after buying an additional 1,620 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Evans Bancorp during the 2nd quarter valued at about $204,000. Squarepoint Ops LLC purchased a new position in shares of Evans Bancorp during the 2nd quarter worth about $237,000. Finally, American Century Companies Inc. purchased a new position in shares of Evans Bancorp during the 2nd quarter worth about $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.