Piper Sandler Trims Evans Bancorp (NYSEAMERICAN:EVBN) Target Price to $27.00

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

Evans Bancorp Price Performance

NYSEAMERICAN:EVBN opened at $25.55 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.00 and a quick ratio of 1.00. Evans Bancorp has a fifty-two week low of $23.20 and a fifty-two week high of $33.58. The company has a market cap of $140.78 million, a price-to-earnings ratio of 6.67 and a beta of 0.91.

Evans Bancorp (NYSEAMERICAN:EVBN) last posted 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 12.93% and a net margin of 16.21%. The firm had revenue of $16.17 million for the quarter, compared to analyst estimates of $16.20 million. As a group, equities research analysts anticipate that Evans Bancorp will post 1.93 earnings per share for the current year.

Evans Bancorp Announces Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 12th were paid a $0.66 dividend. This represents a dividend yield of 4.5%. The ex-dividend date was Monday, March 11th. Evans Bancorp’s dividend payout ratio is 34.46%.

Insider Activity at Evans Bancorp

In other news, CEO David J. Nasca sold 1,105 shares of the firm’s stock in a transaction that occurred 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 accessible through this link. In other news, Treasurer John B. Connerton sold 3,146 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was 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 directly owns 16,304 shares in the company, valued at approximately $474,772.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David J. Nasca sold 1,105 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $29.09, for a total value of $32,144.45. Following the completion of the sale, the chief executive officer now directly owns 95,913 shares of the company’s stock, valued at $2,790,109.17. The disclosure for this sale can be found here. 6.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Evans Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. PL Capital Advisors LLC raised its position in shares of Evans Bancorp by 3.0% during the first 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 during the period. Kennedy Capital Management LLC raised its holdings in Evans Bancorp by 20.7% during the third quarter. Kennedy Capital Management LLC now owns 21,955 shares of the bank’s stock worth $588,000 after buying an additional 3,770 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new position in shares of Evans Bancorp in the fourth quarter valued at $203,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of 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 buying an additional 1,151 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.