Martingale Asset Management L P Buys Shares of 6,701 Evans Bancorp Inc. (EVBN)
Martingale Asset Management L P bought a new position in Evans Bancorp Inc. (NYSEAMERICAN:EVBN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,701 shares of the bank’s stock, valued at approximately $281,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nationwide Fund Advisors bought a new position in Evans Bancorp in the second quarter worth about $101,000. FNY Managed Accounts LLC bought a new position in Evans Bancorp in the third quarter worth about $159,000. Wells Fargo & Company MN lifted its holdings in Evans Bancorp by 455.6% in the third quarter. Wells Fargo & Company MN now owns 4,517 shares of the bank’s stock worth $195,000 after acquiring an additional 3,704 shares during the last quarter. New York State Common Retirement Fund bought a new position in Evans Bancorp in the second quarter worth about $200,000. Finally, Rhumbline Advisers bought a new position in Evans Bancorp in the third quarter worth about $207,000.
Separately, Hovde Group upgraded shares of Evans Bancorp from a “market perform” rating to an “outperform” rating and set a $49.00 price target on the stock in a research note on Wednesday, January 10th.
Evans Bancorp (NYSEAMERICAN:EVBN) last announced its quarterly earnings results on Thursday, February 1st. The bank reported $0.62 EPS for the quarter. Evans Bancorp had a net margin of 21.79% and a return on equity of 10.52%. The company had revenue of $14.19 million for the quarter.
The company also recently declared a semiannual dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Tuesday, March 13th will be paid a $0.46 dividend. The ex-dividend date is Monday, March 12th. This represents a dividend yield of 2.16%. This is a positive change from Evans Bancorp’s previous semiannual dividend of $0.40. Evans Bancorp’s dividend payout ratio (DPR) is presently 30.89%.
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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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