Evans Bancorp (NYSEAMERICAN:EVBN) Stock Rating Lowered by StockNews.com

Evans Bancorp (NYSEAMERICAN:EVBN) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

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

Evans Bancorp Stock Up 4.7 %

EVBN opened at $29.11 on Tuesday. The firm has a market cap of $160.69 million, a P/E ratio of 7.60 and a beta of 0.92. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $33.58. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.93.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced 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). The company had revenue of $16.17 million for the quarter, compared to analyst estimates of $16.20 million. Evans Bancorp had a return on equity of 12.70% and a net margin of 16.21%. Equities research analysts forecast that Evans Bancorp will post 1.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Evans Bancorp

In other Evans Bancorp news, major shareholder Pl Capital Advisors, Llc acquired 2,776 shares of the stock in a transaction dated Thursday, May 23rd. The shares were bought at an average price of $27.75 per share, with a total value of $77,034.00. Following the purchase, the insider now directly owns 555,572 shares of the company’s stock, valued at approximately $15,417,123. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have purchased 31,937 shares of company stock valued at $837,330. Company insiders own 6.11% of the company’s stock.

Hedge Funds Weigh In On Evans Bancorp

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Evans Bancorp by 0.6% in the first 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. PL Capital Advisors LLC increased its position in shares of Evans Bancorp by 3.0% in the first 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. BNP Paribas Financial Markets increased its position in shares of Evans Bancorp by 78.1% in the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after acquiring an additional 1,151 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new position in shares of Evans Bancorp in the fourth quarter worth approximately $203,000. Institutional investors and hedge funds 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.