Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Sees Large Growth in Short Interest

Evans Bancorp, Inc. (NYSEAMERICAN:EVBNGet Free Report) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 153,400 shares, a growth of 130.0% from the April 15th total of 66,700 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average daily trading volume, of 20,100 shares, the days-to-cover ratio is presently 7.6 days.

Evans Bancorp Stock Performance

Evans Bancorp stock traded up $0.14 during mid-day trading on Monday, reaching $26.56. The company had a trading volume of 22,711 shares, compared to its average volume of 18,997. Evans Bancorp has a fifty-two week low of $23.20 and a fifty-two week high of $33.58. The firm has a market capitalization of $146.61 million, a P/E ratio of 6.90 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99.

Evans Bancorp (NYSEAMERICAN:EVBNGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The bank reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Evans Bancorp had a net margin of 16.21% and a return on equity of 12.70%. The business had revenue of $16.17 million during the quarter, compared to the consensus estimate of $16.20 million. On average, equities analysts forecast that Evans Bancorp will post 1.93 earnings per share for the current fiscal year.

Evans Bancorp Announces Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 12th were given a $0.66 dividend. This represents a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, March 11th. Evans Bancorp’s dividend payout ratio (DPR) is presently 34.46%.

Insider Activity

In other Evans Bancorp news, Treasurer John B. Connerton sold 3,146 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $29.12, for a total transaction of $91,611.52. Following the completion of the transaction, the treasurer now owns 16,304 shares in the company, valued at approximately $474,772.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Treasurer John B. Connerton sold 3,146 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $29.12, for a total value of $91,611.52. Following the sale, the treasurer now owns 16,304 shares of the company’s stock, valued at $474,772.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David J. Nasca sold 1,105 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $29.09, for a total transaction of $32,144.45. Following the completion of the transaction, the chief executive officer now directly owns 95,913 shares of the company’s stock, valued at approximately $2,790,109.17. The disclosure for this sale can be found here. Corporate insiders own 6.11% of the company’s stock.

Institutional Investors Weigh In On Evans Bancorp

Hedge funds have recently added to or reduced their stakes in the business. 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 buying an additional 1,620 shares during the period. PL Capital Advisors LLC boosted its stake in Evans Bancorp by 3.0% during the 1st 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 last quarter. BNP Paribas Financial Markets increased its holdings in Evans Bancorp by 78.1% during the 1st quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock worth $78,000 after purchasing an additional 1,151 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of Evans Bancorp in the fourth quarter worth approximately $203,000. Finally, Kennedy Capital Management LLC lifted its stake in Evans Bancorp by 20.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 21,955 shares of the bank’s stock valued at $588,000 after acquiring an additional 3,770 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price objective on shares of Evans Bancorp from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st.

Read Our Latest Stock Analysis on Evans Bancorp

Evans Bancorp Company Profile

(Get Free Report)

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.

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