Insider Buying: Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Major Shareholder Purchases 2,776 Shares of Stock

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) major shareholder Pl Capital Advisors, Llc bought 2,776 shares of the stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average cost of $27.75 per share, for a total transaction of $77,034.00. Following the completion of the transaction, the insider now directly owns 555,572 shares of the company’s stock, valued at $15,417,123. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Evans Bancorp Trading Up 0.8 %

Shares of Evans Bancorp stock traded up $0.22 during trading hours on Friday, hitting $27.60. 16,492 shares of the company’s stock traded hands, compared to its average volume of 19,225. Evans Bancorp, Inc. has a 12-month low of $23.20 and a 12-month high of $33.58. The firm has a market cap of $152.35 million, a PE ratio of 7.21 and a beta of 0.91. 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 (NYSEAMERICAN:EVBN) last announced its earnings results on Tuesday, April 30th. The bank reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.04). Evans Bancorp had a net margin of 16.21% and a return on equity of 12.70%. The business had revenue of $16.17 million for the quarter, compared to analysts’ expectations of $16.20 million. Equities research analysts anticipate that Evans Bancorp, Inc. will post 1.93 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted 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 worth $78,000 after purchasing an additional 1,151 shares during the period. Prime Capital Investment Advisors LLC bought a new position in Evans Bancorp in the 4th quarter worth about $203,000. Kennedy Capital Management LLC boosted its stake in Evans Bancorp by 20.7% in the 3rd 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. boosted its stake in Evans Bancorp by 0.6% in 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 period. Finally, PL Capital Advisors LLC boosted its stake in Evans Bancorp by 3.0% in the 1st quarter. PL Capital Advisors LLC now owns 538,437 shares of the bank’s stock worth $16,078,000 after purchasing an additional 15,788 shares during the period. Institutional investors own 67.10% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price target 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.

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.