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

StockNews.com began coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note issued to investors on Wednesday. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upped their target price on shares of Evans Bancorp from $26.50 to $30.50 and gave the stock a market perform rating in a report on Thursday, August 1st.

Evans Bancorp Price Performance

Shares of NYSEAMERICAN:EVBN opened at $38.47 on Wednesday. Evans Bancorp has a fifty-two week low of $24.07 and a fifty-two week high of $40.97. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $212.74 million, a price-to-earnings ratio of 10.04 and a beta of 0.91.

Evans Bancorp (NYSEAMERICAN:EVBN) last issued its quarterly earnings data on Tuesday, July 30th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Announces Dividend

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

Insider Transactions at Evans Bancorp

In related news, major shareholder Pl Capital Advisors, Llc bought 6,680 shares of Evans Bancorp stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average cost of $32.81 per share, with a total value of $219,170.80. Following the completion of the transaction, the insider now owns 611,759 shares in the company, valued at $20,071,812.79. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EVBN. BNP Paribas Financial Markets boosted its position in Evans Bancorp by 78.1% during the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after acquiring an additional 1,151 shares during the last quarter. PL Capital Advisors LLC boosted its holdings in Evans Bancorp by 3.0% in the 1st quarter. PL Capital Advisors LLC now owns 538,437 shares of the bank’s stock valued at $16,078,000 after purchasing an additional 15,788 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Evans Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock worth $8,400,000 after acquiring an additional 1,620 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Evans Bancorp during the 2nd quarter worth approximately $337,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Evans Bancorp during the 2nd quarter worth approximately $500,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

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.