Evans Bancorp (NYSEAMERICAN:EVBN) Price Target Cut to $27.00 by Analysts at Piper Sandler

Evans Bancorp (NYSEAMERICAN:EVBN) had its target price reduced by Piper Sandler from $30.00 to $27.00 in a research report report published on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Evans Bancorp Trading Down 4.9 %

EVBN stock opened at $24.34 on Wednesday. Evans Bancorp has a 52-week low of $23.20 and a 52-week high of $33.58. The company has a market cap of $134.11 million, a PE ratio of 5.45 and a beta of 0.88. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.99.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced 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 firm had revenue of $16.17 million for the quarter, compared to the consensus estimate of $16.20 million. Evans Bancorp had a net margin of 18.90% and a return on equity of 15.16%. Research analysts predict that Evans Bancorp will post 2.11 earnings per share for the current fiscal year.

Evans Bancorp Dividend Announcement

The business also recently announced a semi-annual dividend, which was paid on Tuesday, April 9th. Shareholders of record on Tuesday, March 12th were given a $0.66 dividend. This represents a yield of 4.5%. The ex-dividend date was Monday, March 11th. Evans Bancorp’s dividend payout ratio (DPR) is presently 29.53%.

Insiders Place Their Bets

In other Evans Bancorp news, Treasurer John B. Connerton sold 3,146 shares of Evans Bancorp stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $29.12, for a total value of $91,611.52. Following the completion of the sale, the treasurer now owns 16,304 shares of the company’s stock, valued at approximately $474,772.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO David J. Nasca sold 1,105 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $29.09, for a total transaction of $32,144.45. Following the completion of the sale, the chief executive officer now owns 95,913 shares of the company’s stock, valued at approximately $2,790,109.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Treasurer John B. Connerton sold 3,146 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $29.12, for a total transaction of $91,611.52. Following the sale, the treasurer now directly owns 16,304 shares of the company’s stock, valued at approximately $474,772.48. The disclosure for this sale can be found here. 6.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EVBN. BNP Paribas Financial Markets lifted its stake 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 buying an additional 1,151 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in shares of Evans Bancorp during the 4th quarter valued at $203,000. Kennedy Capital Management LLC lifted 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 in the last quarter. Finally, PL Capital Advisors LLC lifted 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 in the last quarter. Hedge funds and other 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.