Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Major Shareholder Purchases $219,170.80 in Stock

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) major shareholder Pl Capital Advisors, Llc bought 6,680 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average cost of $32.81 per share, for a total transaction of $219,170.80. Following the completion of the transaction, the insider now owns 611,759 shares of the company’s stock, valued at $20,071,812.79. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Pl Capital Advisors, Llc also recently made the following trade(s):

• On Tuesday, June 4th, Pl Capital Advisors, Llc acquired 7,800 shares of Evans Bancorp stock. The stock was purchased at an average price of $25.96 per share, with a total value of $202,488.00.
• On Thursday, May 30th, Pl Capital Advisors, Llc acquired 300 shares of Evans Bancorp stock. The shares were purchased at an average price of $25.65 per share, for a total transaction of $7,695.00.
• On Tuesday, May 28th, Pl Capital Advisors, Llc bought 21,061 shares of Evans Bancorp stock. The stock was purchased at an average cost of $26.12 per share, with a total value of $550,113.32.
• On Thursday, May 23rd, Pl Capital Advisors, Llc purchased 2,776 shares of Evans Bancorp stock. The stock was acquired at an average cost of $27.75 per share, for a total transaction of $77,034.00.

Evans Bancorp Stock Performance

Shares of NYSEAMERICAN:EVBN opened at $34.01 on Friday. The firm has a market capitalization of $187.74 million, a PE ratio of 8.88 and a beta of 0.92. 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, Inc. has a 52 week low of $24.07 and a 52 week high of $33.99.

Evans Bancorp (NYSEAMERICAN:EVBN) last issued its quarterly earnings data 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). 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.

Hedge Funds Weigh In On Evans Bancorp

Several institutional investors have recently bought and sold shares of EVBN. PL Capital Advisors LLC raised its stake in shares of Evans Bancorp by 12.4% in the second quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank’s stock worth $17,009,000 after acquiring an additional 66,642 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Evans Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock valued at $8,400,000 after acquiring an additional 1,620 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in Evans Bancorp in the fourth quarter worth about $203,000. Finally, BNP Paribas Financial Markets raised its holdings in Evans Bancorp by 78.1% during 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 last quarter. Institutional investors own 67.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on EVBN. StockNews.com raised shares of Evans Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Piper Sandler dropped their target price on Evans Bancorp from $30.00 to $27.00 and set a “neutral” rating for the company in a 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.