Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Major Shareholder Purchases $219,170.80 in Stock

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of Evans Bancorp stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average cost of $32.81 per share, with a total value of $219,170.80. Following the transaction, the insider now owns 611,759 shares in the company, valued at approximately $20,071,812.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Pl Capital Advisors, Llc also recently made the following trade(s):

• On Tuesday, June 4th, Pl Capital Advisors, Llc acquired 7,800 shares of Evans Bancorp stock. The shares were acquired at an average price of $25.96 per share, with a total value of $202,488.00.
• On Thursday, May 30th, Pl Capital Advisors, Llc purchased 300 shares of Evans Bancorp stock. The shares were bought at an average price of $25.65 per share, with a total value of $7,695.00.
• On Tuesday, May 28th, Pl Capital Advisors, Llc bought 21,061 shares of Evans Bancorp stock. The stock was bought at an average price of $26.12 per share, for a total transaction of $550,113.32.
• On Thursday, May 23rd, Pl Capital Advisors, Llc purchased 2,776 shares of Evans Bancorp stock. The shares were bought at an average price of $27.75 per share, with a total value of $77,034.00.

Evans Bancorp Price Performance

EVBN stock opened at $34.01 on Friday. The firm has a market capitalization of $187.74 million, a price-to-earnings ratio of 8.88 and a beta of 0.92. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99. Evans Bancorp, Inc. has a 1-year low of $24.07 and a 1-year high of $33.99.

Evans Bancorp (NYSEAMERICAN:EVBN) last issued its quarterly 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 return on equity of 12.70% and a net margin of 16.21%. The company had revenue of $16.17 million during the quarter, compared to analysts’ expectations of $16.20 million.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Piper Sandler cut their price objective on shares of Evans Bancorp from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. StockNews.com raised shares of Evans Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EVBN. BNP Paribas Financial Markets increased its holdings in 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 acquiring an additional 1,151 shares during the last quarter. Vanguard Group Inc. boosted its position in Evans Bancorp by 0.6% during the first 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 during the period. Prime Capital Investment Advisors LLC purchased a new position in shares of Evans Bancorp in the fourth quarter worth about $203,000. Finally, PL Capital Advisors LLC raised 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 valued at $16,078,000 after purchasing an additional 15,788 shares during the period. 67.10% of the stock is owned by 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.