Evans Bancorp (NYSEAMERICAN:EVBN) Releases Earnings Results, Beats Estimates By $0.15 EPS

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

Evans Bancorp Price Performance

EVBN stock opened at $34.90 on Thursday. The stock has a market cap of $192.65 million, a PE ratio of 9.67 and a beta of 0.92. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.93. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $35.47.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EVBN. StockNews.com upgraded Evans Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday. Piper Sandler decreased their price objective on Evans Bancorp from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st.

Insider Transactions at Evans Bancorp

In other Evans Bancorp news, major shareholder Pl Capital Advisors, Llc purchased 21,061 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average price of $26.12 per share, with a total value of $550,113.32. Following the transaction, the insider now owns 576,633 shares in the company, valued at $15,061,653.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 38,617 shares of company stock valued at $1,056,501 in the last 90 days. 6.34% of the stock is currently owned by corporate insiders.

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.