Evans Bancorp (NYSEAMERICAN:EVBN) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Evans Bancorp (NYSEAMERICAN:EVBN) from a sell rating to a hold rating in a research note released on Thursday morning.

Separately, Piper Sandler decreased their target price on Evans Bancorp from $30.00 to $27.00 and set a neutral rating for the company in a research report on Wednesday, May 1st.

Evans Bancorp Trading Up 0.6 %

NYSEAMERICAN EVBN opened at $33.87 on Thursday. The firm has a market cap of $186.96 million, a price-to-earnings ratio of 8.84 and a beta of 0.92. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99. Evans Bancorp has a 12 month low of $24.07 and a 12 month high of $33.99.

Evans Bancorp (NYSEAMERICAN:EVBN) last issued its quarterly earnings results on Tuesday, April 30th. The bank reported $0.42 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.04). The company had revenue of $16.17 million for the quarter, compared to the consensus estimate of $16.20 million. Evans Bancorp had a return on equity of 12.70% and a net margin of 16.21%.

Insider Buying and Selling at Evans Bancorp

In other Evans Bancorp news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average price of $32.81 per share, with a total value of $219,170.80. Following the completion of the acquisition, the insider now owns 611,759 shares in the company, valued at approximately $20,071,812.79. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 38,617 shares of company stock worth $1,056,501. 6.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Evans Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in shares of Evans Bancorp by 78.1% during the 1st quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock valued at $78,000 after acquiring an additional 1,151 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Evans Bancorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock worth $8,400,000 after purchasing an additional 1,620 shares during the period. Prime Capital Investment Advisors LLC purchased a new stake in shares of Evans Bancorp during the fourth quarter valued at $203,000. Finally, PL Capital Advisors LLC boosted its position in shares of Evans Bancorp by 3.0% in the 1st 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 period. 67.10% of the stock is owned by institutional investors.

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.