Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Major Shareholder Pl Capital Advisors, Llc Acquires 2,776 Shares of Stock

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) major shareholder Pl Capital Advisors, Llc bought 2,776 shares of Evans Bancorp stock in a transaction on Thursday, May 23rd. The shares were bought at an average price of $27.75 per share, for a total transaction of $77,034.00. Following the acquisition, the insider now owns 555,572 shares of the company’s stock, valued at approximately $15,417,123. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Evans Bancorp Price Performance

Shares of EVBN traded up $0.22 on Friday, hitting $27.60. The company’s stock had a trading volume of 16,492 shares, compared to its average volume of 26,389. Evans Bancorp, Inc. has a fifty-two week low of $23.20 and a fifty-two week high of $33.58. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $152.35 million, a PE ratio of 7.15 and a beta of 0.91.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Evans Bancorp

A number of large investors have recently bought and sold shares of EVBN. BNP Paribas Financial Markets grew its holdings in shares of 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 acquiring an additional 1,151 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new position in Evans Bancorp in the fourth quarter valued at approximately $203,000. Kennedy Capital Management LLC increased its position in shares of Evans Bancorp by 20.7% during 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 last quarter. Vanguard Group Inc. increased 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 raised its stake in shares of Evans Bancorp by 3.0% during 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 in the last quarter. Institutional investors and hedge funds 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.