Allianz Asset Management GmbH acquired a new stake in Evans Bancorp Inc. (NYSEAMERICAN:EVBN) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 17,331 shares of the bank’s stock, valued at approximately $749,000. Allianz Asset Management GmbH owned 0.36% of Evans Bancorp at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Evans Bancorp by 3.7% in the third quarter. Dimensional Fund Advisors LP now owns 72,968 shares of the bank’s stock valued at $3,152,000 after purchasing an additional 2,616 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Evans Bancorp by 455.6% in the third quarter. Wells Fargo & Company MN now owns 4,517 shares of the bank’s stock valued at $195,000 after purchasing an additional 3,704 shares during the last quarter. FNY Managed Accounts LLC purchased a new position in Evans Bancorp in the third quarter valued at approximately $159,000. Rhumbline Advisers purchased a new position in Evans Bancorp in the third quarter valued at approximately $207,000. Finally, Weatherly Asset Management L. P. purchased a new position in Evans Bancorp in the third quarter valued at approximately $208,000.
Separately, Hovde Group upgraded Evans Bancorp from a “market perform” rating to an “outperform” rating and set a $49.00 target price on the stock in a research report on Wednesday.
Shares of Evans Bancorp Inc. (NYSEAMERICAN:EVBN) opened at $42.70 on Friday. Evans Bancorp Inc. has a 12-month low of $34.90 and a 12-month high of $47.08. The stock has a market capitalization of $204.07, a price-to-earnings ratio of 17.15 and a beta of 0.43.
Evans Bancorp (NYSEAMERICAN:EVBN) last issued its quarterly earnings data on Monday, October 30th. The bank reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.10. Evans Bancorp had a return on equity of 12.81% and a net margin of 25.75%. The company had revenue of $14.46 million for the quarter.
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Evans Bancorp Company Profile
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.
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