Martingale Asset Management L P bought a new position in shares of Evans Bancorp Inc. (NYSEAMERICAN:EVBN) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,701 shares of the bank’s stock, valued at approximately $281,000. Martingale Asset Management L P owned 0.14% of Evans Bancorp at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Nationwide Fund Advisors bought a new position in shares of Evans Bancorp during the second quarter worth approximately $101,000. FNY Managed Accounts LLC bought a new position in shares of Evans Bancorp during the third quarter worth approximately $159,000. Wells Fargo & Company MN boosted its position in shares of Evans Bancorp by 455.6% during the 3rd quarter. Wells Fargo & Company MN now owns 4,517 shares of the bank’s stock worth $195,000 after acquiring an additional 3,704 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of Evans Bancorp during the 3rd quarter worth approximately $207,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Evans Bancorp during the 2nd quarter worth approximately $200,000.
Separately, Hovde Group upgraded shares of Evans Bancorp from a “market perform” rating to an “outperform” rating and set a $49.00 price target on the stock in a research report on Wednesday, January 10th.
Shares of EVBN stock traded up $0.70 during trading on Friday, reaching $46.25. 22,875 shares of the company’s stock were exchanged, compared to its average volume of 13,198. Evans Bancorp Inc. has a 1 year low of $35.10 and a 1 year high of $47.08. The firm has a market capitalization of $218.08, a price-to-earnings ratio of 17.86 and a beta of 0.34.
Evans Bancorp (NYSEAMERICAN:EVBN) last issued its quarterly earnings results on Thursday, February 1st. The bank reported $0.62 EPS for the quarter. The company had revenue of $14.19 million for the quarter. Evans Bancorp had a net margin of 21.79% and a return on equity of 10.52%.
The firm also recently declared a semiannual dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Tuesday, March 13th will be issued a dividend of $0.46 per share. This represents a dividend yield of 2.16%. The ex-dividend date of this dividend is Monday, March 12th. This is a positive change from Evans Bancorp’s previous semiannual dividend of $0.40. Evans Bancorp’s payout ratio is 35.52%.
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Evans Bancorp Company Profile
Evans Bancorp, Inc is a financial holding company. The Company conducts its business through its subsidiaries, such as Evans Bank, N.A. (the Bank), which provides a range of banking services to consumer and commercial customers in Western New York, and Evans National Financial Services, LLC (ENFS), which hold interests in The Evans Agency, LLC (TEA), which sells various premium-based insurance policies on a commission basis.
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