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

StockNews.com started coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note released on Tuesday morning. The firm 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 stock a market perform rating in a research report on Thursday, August 1st.

Evans Bancorp Stock Performance

Evans Bancorp stock opened at $39.11 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $216.28 million, a P/E ratio of 10.21 and a beta of 0.91. Evans Bancorp has a 1 year low of $24.07 and a 1 year 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, topping 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 company had revenue of $30.22 million during the quarter.

Evans Bancorp Dividend Announcement

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 12th were issued a $0.66 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a dividend yield of 3.9%. Evans Bancorp’s dividend payout ratio (DPR) is presently 34.46%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Evans Bancorp

A number of institutional investors have recently added to or reduced their stakes in EVBN. BNP Paribas Financial Markets boosted its position in shares of Evans Bancorp by 78.1% during the 1st 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Evans Bancorp during the second quarter worth approximately $204,000. Ritholtz Wealth Management acquired a new position in Evans Bancorp in the third quarter worth approximately $218,000. Squarepoint Ops LLC acquired a new position in Evans Bancorp in the second quarter worth approximately $237,000. Finally, American Century Companies Inc. bought a new position in shares of Evans Bancorp in the second quarter valued at $337,000. 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.