Evans Bancorp (NYSEAMERICAN:EVBN) Stock Rating Upgraded by StockNews.com

Evans Bancorp (NYSEAMERICAN:EVBN) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

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

Evans Bancorp Stock Performance

Evans Bancorp stock opened at $28.48 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99. Evans Bancorp has a one year low of $24.07 and a one year high of $33.58. The stock has a market cap of $157.21 million, a PE ratio of 7.44 and a beta of 0.92.

Evans Bancorp (NYSEAMERICAN:EVBN) last issued its quarterly earnings data on Tuesday, April 30th. The bank reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Evans Bancorp had a return on equity of 12.70% and a net margin of 16.21%. The business had revenue of $16.17 million during the quarter, compared to the consensus estimate of $16.20 million. On average, research analysts predict that Evans Bancorp will post 1.93 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Pl Capital Advisors, Llc bought 7,800 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average cost of $25.96 per share, with a total value of $202,488.00. Following the transaction, the insider now directly owns 604,979 shares in the company, valued at approximately $15,705,254.84. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 31,937 shares of company stock worth $837,330 in the last ninety days. Corporate insiders own 6.11% of the company’s stock.

Institutional Trading of Evans Bancorp

Several large investors have recently made changes to their positions in EVBN. BNP Paribas Financial Markets grew its stake in Evans Bancorp by 78.1% in the 1st quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock valued at $78,000 after buying an additional 1,151 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of Evans Bancorp in the fourth quarter valued at about $203,000. Kennedy Capital Management LLC increased its stake in shares of Evans Bancorp by 20.7% in the third quarter. Kennedy Capital Management LLC now owns 21,955 shares of the bank’s stock worth $588,000 after purchasing an additional 3,770 shares during the period. Vanguard Group Inc. lifted its position in shares of Evans Bancorp by 0.6% during the 1st 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 last quarter. Finally, PL Capital Advisors LLC boosted its stake in Evans Bancorp by 3.0% during 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. Institutional investors own 67.10% of the company’s stock.

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.