Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Short Interest Update

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 16,200 shares, a drop of 21.7% from the October 15th total of 20,700 shares. Based on an average daily volume of 38,500 shares, the short-interest ratio is presently 0.4 days. Currently, 0.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Evans Bancorp

A number of hedge funds have recently added to or reduced their stakes in EVBN. Geode Capital Management LLC lifted its holdings in shares of Evans Bancorp by 6.9% in the third quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock valued at $2,175,000 after purchasing an additional 3,583 shares in the last quarter. Barclays PLC lifted its holdings in Evans Bancorp by 47.7% during the third quarter. Barclays PLC now owns 16,163 shares of the bank’s stock worth $630,000 after acquiring an additional 5,218 shares during the period. Stifel Financial Corp bought a new stake in Evans Bancorp during the third quarter worth $556,000. De Lisle Partners LLP lifted its holdings in Evans Bancorp by 30.3% during the third quarter. De Lisle Partners LLP now owns 46,943 shares of the bank’s stock worth $1,829,000 after acquiring an additional 10,908 shares during the period. Finally, Prime Capital Investment Advisors LLC bought a new stake in Evans Bancorp during the third quarter worth $251,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on EVBN shares. StockNews.com started coverage on shares of Evans Bancorp in a research note on Wednesday. They set a “hold” rating for the company. Keefe, Bruyette & Woods raised their target price on shares of Evans Bancorp from $42.32 to $45.50 and gave the stock a “market perform” rating in a research note on Friday, November 1st.

Evans Bancorp Stock Down 1.2 %

Shares of NYSEAMERICAN:EVBN traded down $0.52 during trading on Friday, hitting $43.28. 14,730 shares of the company were exchanged, compared to its average volume of 45,808. The company has a market capitalization of $239.77 million, a PE ratio of 13.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.98 and a current ratio of 0.99. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $45.43.

Evans Bancorp (NYSEAMERICAN:EVBN) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.13. The business had revenue of $31.69 million during the quarter. Evans Bancorp had a return on equity of 10.27% and a net margin of 13.80%.

Evans Bancorp Announces Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 12th were paid a $0.66 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a yield of 3.9%. Evans Bancorp’s dividend payout ratio (DPR) is presently 39.64%.

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.