Evans Bancorp (NYSEAMERICAN:EVBN) Now Covered by Analysts at StockNews.com

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

Separately, Keefe, Bruyette & Woods upped their price objective 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 Down 2.8 %

EVBN stock opened at $38.94 on Friday. The firm has a market capitalization of $215.34 million, a PE ratio of 11.25 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 12 month low of $24.07 and a 12 month high of $41.18.

Evans Bancorp (NYSEAMERICAN:EVBN) last posted its earnings results on Tuesday, July 30th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.15. Evans Bancorp had a net margin of 14.51% and a return on equity of 11.20%. The firm had revenue of $30.22 million during 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 given a dividend of $0.66 per share. The ex-dividend date was Thursday, September 12th. This represents a dividend yield of 3.9%. Evans Bancorp’s dividend payout ratio is presently 38.15%.

Institutional Trading of Evans Bancorp

Several hedge funds have recently added to or reduced their stakes in EVBN. BNP Paribas Financial Markets raised its holdings in 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 acquiring an additional 1,151 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Evans Bancorp during the second quarter worth approximately $204,000. Ritholtz Wealth Management acquired a new stake in Evans Bancorp during the third quarter worth approximately $218,000. Squarepoint Ops LLC acquired a new stake in Evans Bancorp during the second quarter worth approximately $237,000. Finally, American Century Companies Inc. acquired a new stake in Evans Bancorp during the second quarter worth approximately $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.