Evans Bancorp (NYSEAMERICAN:EVBN) Trading 2.5% Higher

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) traded up 2.5% on Thursday . The stock traded as high as $39.62 and last traded at $38.94. 83,125 shares traded hands during trading, an increase of 212% from the average session volume of 26,650 shares. The stock had previously closed at $37.99.

Analysts Set New Price Targets

EVBN has been the subject of several recent analyst reports. StockNews.com upgraded Evans Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods boosted their target price on Evans Bancorp from $26.50 to $30.50 and gave the company a “market perform” rating in a research report on Thursday, August 1st.

Evans Bancorp Trading Up 2.5 %

The company has a debt-to-equity ratio of 0.90, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $215.34 million, a price-to-earnings ratio of 10.17 and a beta of 0.91.

Evans Bancorp (NYSEAMERICAN:EVBN) last issued its quarterly earnings results on Tuesday, July 30th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.15. The business had revenue of $30.22 million for the quarter. Evans Bancorp had a return on equity of 11.20% and a net margin of 14.51%.

Evans Bancorp Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 12th will be given a $0.66 dividend. This represents a dividend yield of 3.9%. The ex-dividend date is Thursday, September 12th. Evans Bancorp’s payout ratio is 34.46%.

Insider Activity at Evans Bancorp

In other Evans Bancorp news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of the stock in a transaction on Tuesday, July 23rd. The shares were bought at an average cost of $32.81 per share, with a total value of $219,170.80. Following the completion of the acquisition, the insider now owns 611,759 shares in the company, valued at $20,071,812.79. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 6.34% of the stock is owned by insiders.

Institutional Trading of Evans Bancorp

A number of hedge funds have recently bought and sold shares of EVBN. Vanguard Group Inc. raised its stake in 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 acquiring an additional 1,620 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings 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 valued at $78,000 after purchasing an additional 1,151 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Evans Bancorp in the second quarter valued at about $237,000. Cubist Systematic Strategies LLC purchased a new position in shares of Evans Bancorp during the second quarter valued at approximately $500,000. Finally, American Century Companies Inc. acquired a new position in Evans Bancorp during the second quarter worth approximately $337,000. 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.