Rhumbline Advisers Sells 5,299 Shares of Evans Bancorp, Inc. (NYSEAMERICAN:EVBN)

Rhumbline Advisers lessened its position in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) by 78.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,447 shares of the bank’s stock after selling 5,299 shares during the quarter. Rhumbline Advisers’ holdings in Evans Bancorp were worth $41,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted 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 valued at $78,000 after buying an additional 1,151 shares during the period. Vanguard Group Inc. lifted its holdings in Evans Bancorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock worth $8,400,000 after buying an additional 1,620 shares during the period. Finally, PL Capital Advisors LLC raised its holdings in Evans Bancorp by 3.0% in the first 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 in the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Pl Capital Advisors, Llc acquired 6,680 shares of Evans Bancorp stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average cost of $32.81 per share, with a total value of $219,170.80. Following the purchase, the insider now owns 611,759 shares in the company, valued at $20,071,812.79. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Evans Bancorp from $26.50 to $30.50 and gave the company a “market perform” rating in a report on Thursday, August 1st. StockNews.com initiated coverage on shares of Evans Bancorp in a report on Wednesday. They set a “hold” rating on the stock.

Evans Bancorp Stock Down 1.6 %

Evans Bancorp stock opened at $38.35 on Wednesday. Evans Bancorp, Inc. has a 52 week low of $24.07 and a 52 week high of $40.97. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $212.08 million, a P/E ratio of 10.01 and a beta of 0.91.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its quarterly earnings data on Tuesday, July 30th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.38 by $0.15. Evans Bancorp had a return on equity of 11.20% and a net margin of 14.51%. The business had revenue of $30.22 million for the quarter.

Evans Bancorp Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 12th will be issued a $0.66 dividend. This represents a yield of 3.9%. The ex-dividend date of this dividend is Thursday, September 12th. Evans Bancorp’s payout ratio is presently 34.46%.

Evans Bancorp 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.