Evans Bancorp (NYSEAMERICAN:EVBN) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Evans Bancorp (NYSEAMERICAN:EVBN) from a hold rating to a sell rating in a report issued on Tuesday.

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

Evans Bancorp Stock Down 0.8 %

NYSEAMERICAN:EVBN opened at $29.66 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99. Evans Bancorp has a 52 week low of $24.07 and a 52 week high of $33.58. The company has a market cap of $163.72 million, a price-to-earnings ratio of 7.74 and a beta of 0.92.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its earnings results on Tuesday, April 30th. The bank reported $0.42 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 firm had revenue of $16.17 million for the quarter, compared to the consensus estimate of $16.20 million. As a group, equities analysts expect that Evans Bancorp will post 1.93 EPS for the current year.

Insider Activity at Evans Bancorp

In related news, major shareholder Pl Capital Advisors, Llc bought 21,061 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average cost of $26.12 per share, for a total transaction of $550,113.32. Following the completion of the acquisition, the insider now directly owns 576,633 shares in the company, valued at $15,061,653.96. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders bought 31,937 shares of company stock valued at $837,330. Insiders own 6.34% of the company’s stock.

Hedge Funds Weigh In On Evans Bancorp

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in Evans Bancorp by 78.1% during the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock valued at $78,000 after purchasing an additional 1,151 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in Evans Bancorp during the fourth quarter valued at approximately $203,000. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 1,620 shares in the last quarter. Finally, PL Capital Advisors LLC boosted its holdings in shares of 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 acquiring an additional 15,788 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors.

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.