Evans Bancorp (NYSEAMERICAN:EVBN) Shares Down 0.1%

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN - Get Free Report) fell 0.1% during mid-day trading on Tuesday . The stock traded as low as $28.70 and last traded at $28.73. 8,051 shares were traded during trading, a decline of 49% from the average session volume of 15,654 shares. The stock had previously closed at $28.75.

Analysts Set New Price Targets

Separately, Piper Sandler cut shares of Evans Bancorp from an "overweight" rating to a "neutral" rating and set a $32.00 target price for the company. in a research note on Friday, February 2nd.

Evans Bancorp Price Performance

The company has a market cap of $158.30 million, a PE ratio of 6.43 and a beta of 0.88. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.00 and a current ratio of 1.00.

Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The bank reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $1.41. The business had revenue of $32.50 million for the quarter, compared to the consensus estimate of $17.62 million. Evans Bancorp had a net margin of 18.90% and a return on equity of 15.16%. On average, sell-side analysts expect that Evans Bancorp, Inc. will post 2.11 earnings per share for the current fiscal year.

Evans Bancorp Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 12th will be issued a $0.66 dividend. The ex-dividend date is Monday, March 11th. This represents a dividend yield of 4.5%. Evans Bancorp's dividend payout ratio (DPR) is presently 29.53%.

Insider Activity

In related news, Treasurer John B. Connerton sold 3,146 shares of the firm's stock in a transaction on 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 transaction, the treasurer now directly owns 16,304 shares of the company's stock, valued at $474,772.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Evans Bancorp news, CEO David J. Nasca sold 1,105 shares of Evans Bancorp stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $29.09, for a total transaction of $32,144.45. Following the completion of the transaction, the chief executive officer now directly owns 95,913 shares of the company's stock, valued at $2,790,109.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Treasurer John B. Connerton sold 3,146 shares of Evans Bancorp stock in a transaction on Monday, March 18th. The stock was sold at an average price of $29.12, for a total transaction of $91,611.52. Following the transaction, 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. 6.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Evans Bancorp

A number of institutional investors have recently modified their holdings of EVBN. UBS Group AG raised its stake in Evans Bancorp by 86.1% during the second quarter. UBS Group AG now owns 817 shares of the bank's stock worth $28,000 after acquiring an additional 378 shares in the last quarter. California State Teachers Retirement System bought a new stake in shares of Evans Bancorp during the second quarter worth about $43,000. BNP Paribas Arbitrage SNC bought a new stake in shares of Evans Bancorp during the second quarter worth about $45,000. FMR LLC grew its holdings in shares of Evans Bancorp by 236.3% during the third quarter. FMR LLC now owns 2,290 shares of the bank's stock worth $61,000 after purchasing an additional 1,609 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new stake in shares of Evans Bancorp during the second quarter worth about $71,000. Institutional investors own 67.10% of the company's stock.

About Evans Bancorp

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.

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