Evans Bancorp Inc. (NYSEAMERICAN:EVBN) announced a — dividend on Wednesday, August 28th, Wall Street Journal reports. Investors of record on Wednesday, September 11th will be given a dividend of 0.52 per share by the bank on Wednesday, October 2nd. This represents a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 10th.
Evans Bancorp has increased its dividend by an average of 8.5% per year over the last three years and has increased its dividend every year for the last 7 years. Evans Bancorp has a payout ratio of 59.1% indicating that its dividend is sufficiently covered by earnings.
NYSEAMERICAN:EVBN opened at $33.40 on Monday. Evans Bancorp has a 12-month low of $30.61 and a 12-month high of $47.50.
Separately, Hovde Group lowered Evans Bancorp from an “outperform” rating to a “market perform” rating in a research note on Friday, July 12th.
In related news, Director Robert G. Miller, Jr. sold 2,518 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $35.98, for a total transaction of $90,597.64. Following the completion of the transaction, the director now directly owns 73,734 shares of the company’s stock, valued at approximately $2,652,949.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 3,304 shares of company stock valued at $118,244.
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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