Evans Bancorp (NYSEAMERICAN:EVBN) Announces Earnings Results

Evans Bancorp (NYSEAMERICAN:EVBN) announced its quarterly earnings results on Tuesday. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.15, Zacks reports. The company had revenue of $30.22 million for the quarter. Evans Bancorp had a net margin of 14.51% and a return on equity of 11.36%.

Evans Bancorp Stock Performance

Evans Bancorp stock opened at $34.90 on Thursday. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $35.47. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $192.65 million, a PE ratio of 9.67 and a beta of 0.92.

Insider Buying and Selling

In other news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average cost of $32.81 per share, with a total value of $219,170.80. Following the purchase, the insider now owns 611,759 shares in the company, valued at $20,071,812.79. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders bought 38,617 shares of company stock valued at $1,056,501. Company insiders own 6.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EVBN. StockNews.com upgraded shares of Evans Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday. Piper Sandler reduced their target price 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.

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.