Evans Bancorp (NYSEAMERICAN:EVBN) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Evans Bancorp (NYSEAMERICAN:EVBN) from a sell rating to a hold rating in a research report released on Tuesday morning.

Separately, Piper Sandler decreased their price objective on Evans Bancorp from $30.00 to $27.00 and set a neutral rating on the stock in a report on Wednesday, May 1st.

Evans Bancorp Price Performance

NYSEAMERICAN EVBN opened at $28.48 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $157.21 million, a price-to-earnings ratio of 7.44 and a beta of 0.92. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $33.58.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The company had revenue of $16.17 million for the quarter, compared to analyst estimates of $16.20 million. Evans Bancorp had a net margin of 16.21% and a return on equity of 12.70%. Research analysts predict that Evans Bancorp will post 1.93 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Pl Capital Advisors, Llc bought 2,776 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $27.75 per share, for a total transaction of $77,034.00. Following the completion of the purchase, the insider now owns 555,572 shares of the company’s stock, valued at approximately $15,417,123. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders bought 31,937 shares of company stock worth $837,330. Insiders own 6.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EVBN. BNP Paribas Financial Markets raised its position in 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 last quarter. Prime Capital Investment Advisors LLC bought a new position in Evans Bancorp in the 4th quarter worth approximately $203,000. Kennedy Capital Management LLC raised its position in Evans Bancorp by 20.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 21,955 shares of the bank’s stock worth $588,000 after purchasing an additional 3,770 shares during the last quarter. Vanguard Group Inc. raised its position in Evans Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock worth $8,400,000 after purchasing an additional 1,620 shares during the last quarter. Finally, PL Capital Advisors LLC raised its position in Evans Bancorp by 3.0% in the 1st quarter. PL Capital Advisors LLC now owns 538,437 shares of the bank’s stock worth $16,078,000 after purchasing an additional 15,788 shares during the last quarter. 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.