Evans Bancorp (NYSEAMERICAN:EVBN) Stock Price Up 2.5%

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

Wall Street Analyst Weigh In

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

Evans Bancorp Stock Up 1.2 %

The company has a market capitalization of $217.83 million, a price-to-earnings ratio of 10.28 and a beta of 0.91. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.98 and a quick ratio of 0.98.

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

Evans Bancorp Dividend Announcement

The firm 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 dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a yield of 3.9%. Evans Bancorp’s dividend payout ratio (DPR) is 34.46%.

Insider Transactions at Evans Bancorp

In related news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of Evans Bancorp stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price of $32.81 per share, for a total transaction of $219,170.80. Following the completion of the transaction, the insider now directly owns 611,759 shares in the company, valued at approximately $20,071,812.79. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 6.34% of the company’s stock.

Hedge Funds Weigh In On Evans Bancorp

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its stake in Evans Bancorp by 78.1% during the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock valued at $78,000 after acquiring an additional 1,151 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Evans Bancorp in the second quarter worth about $204,000. Squarepoint Ops LLC purchased a new stake in shares of Evans Bancorp in the second quarter worth about $237,000. American Century Companies Inc. bought a new position in Evans Bancorp during the second quarter valued at approximately $337,000. Finally, Cubist Systematic Strategies LLC bought a new position in Evans Bancorp during the second quarter valued at approximately $500,000. Institutional investors own 67.10% of the company’s stock.

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.