Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Short Interest Down 21.7% in October

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) saw 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 trading volume, of 38,500 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Evans Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings 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 acquiring an additional 1,151 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Evans Bancorp during the 2nd quarter worth approximately $204,000. Ritholtz Wealth Management acquired a new stake in shares of Evans Bancorp during the 3rd quarter worth approximately $218,000. Squarepoint Ops LLC bought a new stake in shares of Evans Bancorp during the second quarter worth approximately $237,000. Finally, Prime Capital Investment Advisors LLC acquired a new position in Evans Bancorp in the third quarter valued at approximately $251,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Evans Bancorp Price Performance

NYSEAMERICAN:EVBN traded down $0.52 on Friday, reaching $43.28. The stock had a trading volume of 14,730 shares, compared to its average volume of 45,808. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. The firm has a market cap of $239.77 million, a PE ratio of 13.00 and a beta of 0.91. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $45.43.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its quarterly earnings results on Thursday, October 31st. The bank reported $0.53 EPS 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 business had revenue of $31.69 million for the quarter.

Evans Bancorp Dividend Announcement

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

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.