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

Evans Bancorp (NYSEAMERICAN:EVBN) had its target price trimmed by Piper Sandler from $30.00 to $27.00 in a research report sent to investors 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 company has a market cap 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 quick ratio of 1.00 and a current ratio of 1.00.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its quarterly earnings data on Tuesday, April 30th. The bank reported $0.42 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.04). The firm had revenue of $16.17 million for the quarter, compared to analysts’ expectations of $16.20 million. Evans Bancorp had a net margin of 16.21% and a return on equity of 12.93%. As a group, equities 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 paid a dividend of $0.66 per share. 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 Transactions at Evans Bancorp

In other Evans Bancorp news, CEO David J. Nasca sold 1,105 shares of Evans Bancorp stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $29.09, for a total transaction of $32,144.45. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In related 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 $2,790,109.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Treasurer John B. Connerton sold 3,146 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $29.12, for a total transaction of $91,611.52. Following the completion of the transaction, the treasurer now owns 16,304 shares of the company’s stock, valued at $474,772.48. The disclosure for this sale can be found here. Insiders own 6.34% of the company’s stock.

Institutional Investors Weigh In On Evans Bancorp

Several institutional investors have recently modified their holdings of the business. PL Capital Advisors LLC lifted its position in Evans Bancorp by 3.0% during the first quarter. PL Capital Advisors LLC now owns 538,437 shares of the bank’s stock valued at $16,078,000 after purchasing an additional 15,788 shares during the period. Kennedy Capital Management LLC raised 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 buying an additional 3,770 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new position in shares of Evans Bancorp during the 4th quarter valued at $203,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Evans Bancorp by 78.1% in the 1st quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after buying an additional 1,151 shares during the last quarter. 67.10% of the stock is owned by hedge funds and other 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.