Evans Bancorp (NYSEAMERICAN:EVBN) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upped 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 Price Performance

Evans Bancorp stock opened at $39.38 on Friday. The stock has a market capitalization of $217.77 million, a price-to-earnings ratio of 10.28 and a beta of 0.91. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.98 and a quick ratio of 0.98. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $40.97.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its quarterly earnings data 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. The company had revenue of $30.22 million during the quarter. Evans Bancorp had a net margin of 14.51% and a return on equity of 11.20%.

Insider Transactions at Evans Bancorp

In other Evans Bancorp news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average price of $32.81 per share, with a total value of $219,170.80. Following the transaction, the insider now owns 611,759 shares of the company’s stock, valued at $20,071,812.79. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.34% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. PL Capital Advisors LLC raised its stake in shares of Evans Bancorp by 12.4% during the 2nd quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank’s stock worth $17,009,000 after acquiring an additional 66,642 shares in the last quarter. Endeavour Capital Advisors Inc. increased its stake in Evans Bancorp by 56.6% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 298,624 shares of the bank’s stock valued at $8,394,000 after purchasing an additional 107,954 shares in the last quarter. Vanguard Group Inc. increased its stake in Evans Bancorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock valued at $8,400,000 after purchasing an additional 1,620 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Evans Bancorp during the 2nd quarter valued at approximately $500,000. Finally, American Century Companies Inc. acquired a new position in Evans Bancorp during the 2nd quarter valued at approximately $337,000. Institutional investors 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.