Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Short Interest Update

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 16,200 shares, a decrease of 21.7% from the October 15th total of 20,700 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 38,500 shares, the days-to-cover ratio is presently 0.4 days.

Evans Bancorp Trading Down 1.2 %

EVBN traded down $0.52 during midday trading on Friday, reaching $43.28. 14,730 shares of the company’s stock traded hands, compared to its average volume of 45,808. The firm has a market capitalization of $239.77 million, a price-to-earnings ratio of 13.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.98. Evans Bancorp has a 52 week low of $24.07 and a 52 week high of $45.43.

Evans Bancorp (NYSEAMERICAN:EVBN) last posted its earnings results on Thursday, October 31st. The bank reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.13. Evans Bancorp had a return on equity of 10.27% and a net margin of 13.80%. The firm had revenue of $31.69 million for the quarter.

Evans Bancorp Announces Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 12th were paid a $0.66 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a dividend yield of 3.9%. Evans Bancorp’s payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EVBN shares. Keefe, Bruyette & Woods upped their price objective on Evans Bancorp from $42.32 to $45.50 and gave the stock a “market perform” rating in a report on Friday, November 1st. StockNews.com initiated coverage on Evans Bancorp in a research note on Wednesday. They issued a “hold” rating for the company.

Institutional Trading of Evans Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake in Evans Bancorp by 78.1% during the 1st quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock valued at $78,000 after purchasing an additional 1,151 shares during the last quarter. Vanguard Group Inc. boosted 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 during the last quarter. PL Capital Advisors LLC boosted its stake in Evans Bancorp by 12.4% during the 2nd quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank’s stock valued at $17,009,000 after purchasing an additional 66,642 shares during the last quarter. American Century Companies Inc. purchased a new stake in Evans Bancorp during the 2nd quarter valued at $337,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Evans Bancorp during the 2nd quarter valued at $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.