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

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

Separately, Keefe, Bruyette & Woods boosted their price objective on Evans Bancorp from $26.50 to $30.50 and gave the company a market perform rating in a research report on Thursday, August 1st.

Evans Bancorp Stock Performance

Shares of Evans Bancorp stock opened at $37.99 on Thursday. The stock has a market capitalization of $210.08 million, a PE ratio of 9.92 and a beta of 0.91. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $40.97. 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 (NYSEAMERICAN:EVBN) last issued its quarterly earnings results on Tuesday, July 30th. The bank reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.15. Evans Bancorp had a return on equity of 11.20% and a net margin of 14.51%. The business had revenue of $30.22 million during the quarter.

Evans Bancorp Dividend Announcement

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

Insiders Place Their Bets

In other Evans Bancorp news, major shareholder Pl Capital Advisors, Llc bought 6,680 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average cost of $32.81 per share, with a total value of $219,170.80. Following the completion of the purchase, the insider now directly owns 611,759 shares in the company, valued at $20,071,812.79. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 6.34% of the stock is owned by company insiders.

Institutional Trading of Evans Bancorp

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position in shares of Evans Bancorp by 78.1% in the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after buying an additional 1,151 shares during the period. PL Capital Advisors LLC boosted its position in Evans Bancorp by 3.0% during the 1st quarter. PL Capital Advisors LLC now owns 538,437 shares of the bank’s stock worth $16,078,000 after acquiring an additional 15,788 shares during the period. Vanguard Group Inc. grew 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 acquiring an additional 1,620 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Evans Bancorp in the 2nd quarter valued at about $337,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Evans Bancorp in the second quarter worth approximately $500,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Evans Bancorp Company Profile

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.