Evans Bancorp (NYSEAMERICAN:EVBN) Lowered to Market Perform at Hovde Group

Hovde Group lowered shares of Evans Bancorp (NYSEAMERICAN:EVBN) from an outperform rating to a market perform rating in a research note released on Friday, Briefing.com Automated Import reports.

NYSEAMERICAN EVBN opened at $35.78 on Friday. Evans Bancorp has a 1-year low of $30.61 and a 1-year high of $49.23.

Evans Bancorp (NYSEAMERICAN:EVBN) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). The firm had revenue of $16.70 million during the quarter.



In related news, insider David J. Nasca sold 13,079 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $36.00, for a total transaction of $470,844.00. Following the completion of the sale, the insider now directly owns 72,926 shares of the company’s stock, valued at approximately $2,625,336. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 14,588 shares of company stock valued at $523,976 over the last ninety days.

Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its stake in shares of Evans Bancorp by 7.7% during the 1st quarter. Acadian Asset Management LLC now owns 9,985 shares of the bank’s stock worth $356,000 after acquiring an additional 712 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Evans Bancorp by 224.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,031 shares of the bank’s stock worth $37,000 after acquiring an additional 713 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Evans Bancorp by 555.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 990 shares of the bank’s stock valued at $35,000 after purchasing an additional 839 shares in the last quarter. Deutsche Bank AG raised its position in Evans Bancorp by 4.4% during the 4th quarter. Deutsche Bank AG now owns 23,175 shares of the bank’s stock valued at $752,000 after purchasing an additional 980 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Evans Bancorp by 58.6% during the 4th quarter. Bank of America Corp DE now owns 3,408 shares of the bank’s stock valued at $111,000 after purchasing an additional 1,259 shares in the last quarter.

About Evans Bancorp

Evans Bancorp, Inc offers banking products and services. The company offers demand deposits and interest and non-interest bearing time and savings deposits. The company's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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