Acadian Asset Management LLC Reduces Holdings in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN)

Acadian Asset Management LLC lowered its stake in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) by 43.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,369 shares of the bank’s stock after selling 6,410 shares during the quarter. Acadian Asset Management LLC owned approximately 0.15% of Evans Bancorp worth $234,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its holdings in Evans Bancorp by 78.1% in the 1st 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. PL Capital Advisors LLC lifted its stake in shares of Evans Bancorp by 3.0% during the first quarter. PL Capital Advisors LLC now owns 538,437 shares of the bank’s stock valued at $16,078,000 after buying an additional 15,788 shares during the period. Finally, Vanguard Group Inc. boosted its position in Evans Bancorp by 0.6% during the first 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 during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Insider Transactions at Evans Bancorp

In other news, major shareholder Pl Capital Advisors, Llc bought 6,680 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average price of $32.81 per share, for a total transaction of $219,170.80. Following the transaction, 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 SEC, which is accessible through this link. Corporate insiders own 6.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Evans Bancorp in a research note on Friday. They set a “hold” rating for the company. Keefe, Bruyette & Woods increased their price target on shares of Evans Bancorp from $26.50 to $30.50 and gave the stock a “market perform” rating in a research note on Thursday, August 1st.

Evans Bancorp Price Performance

NYSEAMERICAN EVBN opened at $40.55 on Friday. The firm has a market cap of $224.24 million, a PE ratio of 10.59 and a beta of 0.91. Evans Bancorp, Inc. has a 52 week low of $24.07 and a 52 week high of $40.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.98 and a current ratio of 0.98.

Evans Bancorp (NYSEAMERICAN:EVBN) last released its quarterly earnings results on Tuesday, July 30th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate 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 Announces Dividend

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

Evans Bancorp 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.