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

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

Evans Bancorp Stock Performance

NYSEAMERICAN EVBN opened at $25.55 on Wednesday. The firm has a market capitalization of $140.78 million, a P/E ratio of 6.67 and a beta of 0.91. Evans Bancorp has a twelve month low of $23.20 and a twelve month high of $33.58. 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 (NYSEAMERICAN:EVBN) last released its earnings results on Tuesday, April 30th. The bank reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Evans Bancorp had a net margin of 16.21% and a return on equity of 12.93%. The firm had revenue of $16.17 million for the quarter, compared to analyst estimates of $16.20 million. Research analysts predict that Evans Bancorp will post 1.93 EPS for the current year.

Evans Bancorp Dividend Announcement

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

Insider Buying and Selling at Evans Bancorp

In other Evans Bancorp news, CEO David J. Nasca sold 1,105 shares of the firm’s stock in a transaction on 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 in the company, valued at $2,790,109.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Evans Bancorp news, CEO David J. Nasca sold 1,105 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $29.09, for a total value of $32,144.45. Following the transaction, the chief executive officer now owns 95,913 shares in the company, valued at $2,790,109.17. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Treasurer John B. Connerton sold 3,146 shares of the firm’s 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 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. Insiders own 6.34% of the company’s stock.

Hedge Funds Weigh In On Evans Bancorp

Large investors have recently added to or reduced their stakes in the business. Kennedy Capital Management LLC lifted its stake in Evans Bancorp by 20.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 21,955 shares of the bank’s stock valued at $588,000 after acquiring an additional 3,770 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of Evans Bancorp in the fourth quarter valued at about $203,000. BNP Paribas Financial Markets lifted its position 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 purchasing an additional 1,151 shares in the last quarter. Finally, PL Capital Advisors LLC boosted its holdings in 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 last quarter. Institutional investors 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.