Short Interest in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Declines By 31.2%

Evans Bancorp, Inc. (NYSEAMERICAN:EVBNGet Free Report) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 46,300 shares, a decrease of 31.2% from the January 15th total of 67,300 shares. Based on an average daily volume of 17,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 0.9% of the company’s stock are short sold.

Evans Bancorp Stock Up 2.1 %

Shares of EVBN opened at $29.62 on Tuesday. Evans Bancorp has a 1-year low of $23.20 and a 1-year high of $39.69. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $162.32 million, a PE ratio of 6.63 and a beta of 0.89.

Evans Bancorp (NYSEAMERICAN:EVBNGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The bank reported $1.85 EPS for the quarter, topping the consensus estimate of $0.44 by $1.41. Evans Bancorp had a net margin of 18.90% and a return on equity of 15.70%. The business had revenue of $32.50 million for the quarter, compared to analyst estimates of $17.62 million. Sell-side analysts anticipate that Evans Bancorp will post 2.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EVBN. Piper Sandler cut shares of Evans Bancorp from an “overweight” rating to a “neutral” rating and set a $32.00 price objective on the stock. in a research report on Friday, February 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Evans Bancorp from $25.00 to $26.50 and gave the company a “market perform” rating in a research report on Tuesday, November 14th.

View Our Latest Analysis on EVBN

Insider Transactions at Evans Bancorp

In other news, Director Robert G. Miller, Jr. sold 2,137 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $30.02, for a total transaction of $64,152.74. Following the transaction, the director now owns 59,514 shares of the company’s stock, valued at approximately $1,786,610.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.38% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Evans Bancorp by 385.8% in the second quarter. BlackRock Inc. now owns 320,485 shares of the bank’s stock worth $7,990,000 after buying an additional 254,515 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Evans Bancorp by 0.6% in the first quarter. The Manufacturers Life Insurance Company now owns 316,680 shares of the bank’s stock worth $12,034,000 after buying an additional 1,825 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Evans Bancorp by 0.7% in the third quarter. Vanguard Group Inc. now owns 276,172 shares of the bank’s stock worth $7,401,000 after buying an additional 1,827 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Evans Bancorp by 23.3% in the second quarter. Alliancebernstein L.P. now owns 226,382 shares of the bank’s stock worth $5,644,000 after buying an additional 42,731 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Evans Bancorp by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 192,731 shares of the bank’s stock valued at $6,469,000 after purchasing an additional 2,078 shares during the last quarter. Institutional investors own 62.67% of the company’s stock.

About Evans Bancorp

(Get Free Report)

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. It operates in two segments: Banking Activities and Insurance Agency Activities. The company offers deposit products, which include checking and negotiable order of withdrawal accounts, savings accounts, and certificates of deposit.

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