StockNews.com Begins Coverage on Evans Bancorp (NYSEAMERICAN:EVBN)

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

Separately, Keefe, Bruyette & Woods boosted their price objective 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 Stock Performance

Evans Bancorp stock opened at $38.47 on Wednesday. The firm has a market cap of $212.74 million, a PE ratio of 10.04 and a beta of 0.91. 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 has a 1-year low of $24.07 and a 1-year high of $40.97.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its earnings results on Tuesday, July 30th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.38 by $0.15. The firm had revenue of $30.22 million for the quarter. Evans Bancorp had a net margin of 14.51% and a return on equity of 11.20%.

Evans Bancorp Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 12th will be paid a $0.66 dividend. This represents a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, September 12th. Evans Bancorp’s dividend payout ratio is presently 34.46%.

Insiders Place Their Bets

In other Evans Bancorp news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of the company’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 approximately $20,071,812.79. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.34% of the company’s stock.

Institutional Investors Weigh In On Evans Bancorp

Several large investors have recently bought and sold shares of EVBN. BNP Paribas Financial Markets increased its stake in Evans Bancorp by 78.1% in the first 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 in the last quarter. PL Capital Advisors LLC boosted its holdings in shares of Evans Bancorp by 3.0% in the first quarter. PL Capital Advisors LLC now owns 538,437 shares of the bank’s stock valued at $16,078,000 after buying an additional 15,788 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Evans Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock valued at $8,400,000 after buying an additional 1,620 shares during the period. American Century Companies Inc. acquired a new position in shares of Evans Bancorp in the second quarter valued at approximately $337,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Evans Bancorp in the second quarter valued at approximately $500,000. 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.