Evans Bancorp (NYSEAMERICAN:EVBN) Issues Earnings Results

Evans Bancorp (NYSEAMERICAN:EVBN) released its quarterly earnings data on Tuesday. The bank reported $0.42 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.04), reports. The company had revenue of $16.17 million during 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 12.93%.

Evans Bancorp Price Performance

Shares of EVBN stock opened at $24.34 on Thursday. Evans Bancorp has a 1-year low of $23.20 and a 1-year high of $33.58. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $134.11 million, a PE ratio of 6.68 and a beta of 0.91.

Evans Bancorp Dividend Announcement

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, April 9th. Shareholders of record on Tuesday, March 12th were given a $0.66 dividend. This represents a yield of 4.5%. The ex-dividend date was Monday, March 11th. Evans Bancorp’s dividend payout ratio (DPR) is currently 34.46%.

Insiders Place Their Bets

In other news, Treasurer John B. Connerton sold 3,146 shares of Evans Bancorp stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $29.12, for a total value of $91,611.52. Following the completion of the transaction, the treasurer now directly owns 16,304 shares of the company’s stock, valued at approximately $474,772.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO David J. Nasca sold 1,105 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $29.09, for a total transaction of $32,144.45. Following the transaction, the chief executive officer now owns 95,913 shares of the company’s stock, valued at approximately $2,790,109.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Treasurer John B. Connerton sold 3,146 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $29.12, for a total value of $91,611.52. Following the completion of the sale, the treasurer now directly owns 16,304 shares of the company’s stock, valued at $474,772.48. The disclosure for this sale can be found here. Company insiders own 6.34% of the company’s stock.

Institutional Trading of Evans Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of EVBN. Kennedy Capital Management LLC grew its position in Evans Bancorp by 20.7% during the third quarter. Kennedy Capital Management LLC now owns 21,955 shares of the bank’s stock valued at $588,000 after buying an additional 3,770 shares during the period. Prime Capital Investment Advisors LLC bought a new position in shares of Evans Bancorp during the 4th quarter valued at approximately $203,000. BNP Paribas Financial Markets raised its holdings in shares of 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 period. Finally, PL Capital Advisors LLC lifted its stake in Evans Bancorp by 3.0% in the first quarter. PL Capital Advisors LLC now owns 538,437 shares of the bank’s stock valued at $16,078,000 after purchasing an additional 15,788 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their target price on shares of Evans Bancorp from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday.

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.