Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Shares Sold by Elizabeth Park Capital Advisors Ltd.

Elizabeth Park Capital Advisors Ltd. cut its stake in shares of Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) by 22.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,462 shares of the bank’s stock after selling 22,641 shares during the quarter. Evans Bancorp accounts for 1.9% of Elizabeth Park Capital Advisors Ltd.’s portfolio, making the stock its 27th largest holding. Elizabeth Park Capital Advisors Ltd. owned 1.42% of Evans Bancorp worth $2,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Evans Bancorp during the second quarter valued at approximately $204,000. Squarepoint Ops LLC acquired a new stake in Evans Bancorp during the 2nd quarter valued at $237,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Evans Bancorp in the second quarter valued at $500,000. American Century Companies Inc. purchased a new stake in shares of Evans Bancorp in the second quarter valued at $337,000. Finally, PL Capital Advisors LLC boosted its position in shares of Evans Bancorp by 12.4% in the second quarter. PL Capital Advisors LLC now owns 605,079 shares of the bank’s stock worth $17,009,000 after buying an additional 66,642 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Evans Bancorp Trading Down 0.0 %

NYSEAMERICAN:EVBN opened at $38.45 on Thursday. The firm has a market capitalization of $212.63 million, a P/E ratio of 10.04 and a beta of 0.91. Evans Bancorp, Inc. has a 1 year low of $24.07 and a 1 year high of $40.97. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.90.

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

Evans Bancorp Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, major shareholder Pl Capital Advisors, Llc acquired 6,680 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average price of $32.81 per share, with a total value of $219,170.80. Following the completion of the acquisition, the insider now owns 611,759 shares in the company, valued at approximately $20,071,812.79. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.34% of the company’s stock.

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.