Analysts at StockNews.com began coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN – Get Free Report) in a research report issued on Wednesday. The firm set a “hold” rating on the bank’s stock.
Separately, Keefe, Bruyette & Woods raised their target price on Evans Bancorp from $26.50 to $30.50 and gave the stock a “market perform” rating in a research note on Thursday, August 1st.
Check Out Our Latest Research Report on EVBN
Evans Bancorp Price Performance
Evans Bancorp (NYSEAMERICAN:EVBN – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The bank reported $0.53 EPS 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 firm had revenue of $30.22 million for the quarter.
Insider Activity
In related news, major shareholder Pl Capital Advisors, Llc acquired 6,680 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average price of $32.81 per share, for a total transaction of $219,170.80. Following the completion of the acquisition, the insider now 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 available at this link. 6.34% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its position in shares of Evans Bancorp by 78.1% in the 1st quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after purchasing an additional 1,151 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Evans Bancorp in the second quarter worth about $204,000. Squarepoint Ops LLC purchased a new stake in Evans Bancorp in the second quarter worth about $237,000. American Century Companies Inc. bought a new stake in Evans Bancorp during the 2nd quarter valued at 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. 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.
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