Evans Bancorp (NYSEAMERICAN:EVBN) Lowered to “Neutral” at Piper Sandler

Piper Sandler lowered shares of Evans Bancorp (NYSEAMERICAN:EVBNFree Report) from an overweight rating to a neutral rating in a research note published on Friday morning, MarketBeat.com reports. Piper Sandler currently has $32.00 price objective on the bank’s stock.

Several other research firms have also issued reports on EVBN. StockNews.com began coverage on shares of Evans Bancorp in a research report on Thursday, October 5th. They issued a hold rating on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Evans Bancorp from $25.00 to $26.50 and gave the stock a market perform rating in a research report on Tuesday, November 14th.

Get Our Latest Stock Analysis on Evans Bancorp

Evans Bancorp Trading Down 1.3 %

NYSEAMERICAN EVBN opened at $29.30 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.21. The company has a market cap of $160.56 million, a P/E ratio of 6.55 and a beta of 0.89. Evans Bancorp has a 12 month low of $23.20 and a 12 month high of $40.09.

Insiders Place Their Bets

In related news, Director Robert G. Miller, Jr. sold 2,137 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $30.02, for a total value of $64,152.74. Following the completion of the transaction, the director now owns 59,514 shares of the company’s stock, valued at approximately $1,786,610.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jody L. Lomeo acquired 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average price of $27.00 per share, with a total value of $40,500.00. Following the purchase, the director now owns 5,299 shares of the company’s stock, valued at approximately $143,073. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert G. Miller, Jr. sold 2,137 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $30.02, for a total transaction of $64,152.74. Following the completion of the transaction, the director now directly owns 59,514 shares of the company’s stock, valued at approximately $1,786,610.28. The disclosure for this sale can be found here. 6.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Evans Bancorp

A number of institutional investors have recently modified their holdings of EVBN. UBS Group AG boosted its stake in shares of Evans Bancorp by 86.1% during the 2nd quarter. UBS Group AG now owns 817 shares of the bank’s stock valued at $28,000 after buying an additional 378 shares during the period. California State Teachers Retirement System acquired a new stake in shares of Evans Bancorp in the 2nd quarter valued at $43,000. BNP Paribas Arbitrage SNC acquired a new stake in shares of Evans Bancorp in the 2nd quarter valued at $45,000. FMR LLC lifted its stake in shares of Evans Bancorp by 236.3% in the 3rd quarter. FMR LLC now owns 2,290 shares of the bank’s stock valued at $61,000 after purchasing an additional 1,609 shares during the last quarter. Finally, American International Group Inc. acquired a new stake in shares of Evans Bancorp in the 2nd quarter valued at $63,000. Institutional investors and hedge funds own 62.67% of the company’s stock.

About Evans Bancorp

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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. It operates in two segments: Banking Activities and Insurance Agency Activities. The company offers deposit products, which include checking and negotiable order of withdrawal accounts, savings accounts, and certificates of deposit.

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