Evans Bancorp Inc. (EVBN) Lowered to Market Perform at Hovde Group
Hovde Group lowered shares of Evans Bancorp Inc. (NASDAQ:EVBN) from an outperform rating to a market perform rating in a report issued on Friday morning. They currently have $48.00 target price on the bank’s stock, up from their prior target price of $45.00.
Separately, ValuEngine raised shares of Evans Bancorp from a hold rating to a buy rating in a research note on Friday, June 2nd.
Evans Bancorp (EVBN) traded down 3.03% on Friday, hitting $43.20. 7,957 shares of the stock were exchanged. The firm has a market cap of $205.80 million and a P/E ratio of 19.23. Evans Bancorp has a 12 month low of $25.90 and a 12 month high of $44.80. The company has a 50-day moving average of $40.78 and a 200 day moving average of $39.72.
Evans Bancorp (NASDAQ:EVBN) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.04. The firm had revenue of $13.21 million during the quarter. Evans Bancorp had a net margin of 19.82% and a return on equity of 9.20%. Equities research analysts expect that Evans Bancorp will post $2.45 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This piece was originally posted by Watch List News and is the property of of Watch List News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://www.watchlistnews.com/evans-bancorp-inc-evbn-lowered-to-market-perform-at-hovde-group/1599459.html.
The company also recently disclosed a semiannual dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 12th will be paid a $0.40 dividend. The ex-dividend date is Monday, September 11th. This represents a dividend yield of 1.97%.
Several hedge funds and other institutional investors have recently made changes to their positions in EVBN. Nationwide Fund Advisors purchased a new stake in shares of Evans Bancorp in the second quarter worth $101,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Evans Bancorp in the second quarter worth $160,000. New York State Common Retirement Fund purchased a new stake in shares of Evans Bancorp in the second quarter worth $200,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Evans Bancorp in the second quarter worth $316,000. Finally, Teachers Advisors LLC purchased a new stake in shares of Evans Bancorp in the second quarter worth $324,000.
About Evans Bancorp
Evans Bancorp, Inc is a financial holding company. The Company conducts its business through its subsidiaries, such as Evans Bank, N.A. (the Bank), which provides a range of banking services to consumer and commercial customers in Western New York, and Evans National Financial Services, LLC (ENFS), which hold interests in The Evans Agency, LLC (TEA), which sells various premium-based insurance policies on a commission basis.
Receive News & Ratings for Evans Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evans Bancorp Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.