Evans Bancorp (NYSEAMERICAN:EVBN) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Evans Bancorp (NYSEAMERICAN:EVBN) from a hold rating to a sell rating in a report issued on Tuesday.

Separately, Piper Sandler decreased their price objective on Evans Bancorp from $30.00 to $27.00 and set a neutral rating for the company in a research report on Wednesday, May 1st.

Evans Bancorp Price Performance

Shares of NYSEAMERICAN:EVBN opened at $29.66 on Tuesday. The stock has a market cap of $163.72 million, a price-to-earnings ratio of 7.74 and a beta of 0.92. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $33.58. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its quarterly earnings results on Tuesday, April 30th. The bank reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The company had revenue of $16.17 million during the quarter, compared to the consensus estimate of $16.20 million. Evans Bancorp had a net margin of 16.21% and a return on equity of 12.70%. On average, equities research analysts anticipate that Evans Bancorp will post 1.93 earnings per share for the current year.

Insiders Place Their Bets

In other Evans Bancorp news, major shareholder Pl Capital Advisors, Llc purchased 7,800 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were acquired at an average price of $25.96 per share, for a total transaction of $202,488.00. Following the purchase, the insider now owns 604,979 shares in the company, valued at $15,705,254.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 31,937 shares of company stock valued at $837,330 in the last quarter. 6.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. PL Capital Advisors LLC grew its holdings in shares of Evans Bancorp by 3.0% during the 1st 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 in the last quarter. Vanguard Group Inc. grew its holdings in shares of Evans Bancorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock worth $8,400,000 after purchasing an additional 1,620 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of Evans Bancorp during the 4th quarter worth $203,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of 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 in the last quarter. Institutional investors 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.