Short Interest in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Decreases By 69.2%

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totalling 26,900 shares, a decrease of 69.2% from the December 15th total of 87,200 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average trading volume of 31,700 shares, the short-interest ratio is currently 0.8 days.

Analyst Ratings Changes

Several analysts have recently weighed in on EVBN shares. StockNews.com began coverage on Evans Bancorp in a report on Wednesday, January 8th. They set a “hold” rating on the stock. Keefe, Bruyette & Woods lifted their price target 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Evans Bancorp in the 2nd quarter worth approximately $204,000. Ritholtz Wealth Management bought a new position in Evans Bancorp in the 3rd quarter valued at $218,000. Squarepoint Ops LLC bought a new position in Evans Bancorp in the 2nd quarter valued at $237,000. Prime Capital Investment Advisors LLC acquired a new position in Evans Bancorp in the third quarter worth $251,000. Finally, American Century Companies Inc. bought a new stake in shares of Evans Bancorp during the second quarter worth $337,000. 67.10% of the stock is owned by institutional investors.

Evans Bancorp Stock Up 1.2 %

EVBN traded up $0.47 during midday trading on Monday, reaching $41.32. 24,992 shares of the company’s stock were exchanged, compared to its average volume of 21,113. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. The company’s 50-day moving average is $43.71. The company has a market cap of $228.91 million, a price-to-earnings ratio of 12.41 and a beta of 0.92. Evans Bancorp has a one year low of $24.07 and a one year high of $46.21.

Evans Bancorp (NYSEAMERICAN:EVBN) last issued its earnings results on Thursday, October 31st. The bank reported $0.53 earnings per share (EPS) for the quarter, topping 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%.

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.