Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) to Issue $0.66 Semi-annual Dividend

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) declared a semi-annual dividend on Wednesday, August 21st, Wall Street Journal reports. Shareholders of record on Thursday, September 12th will be given a dividend of 0.66 per share by the bank on Thursday, October 10th. This represents a yield of 3.9%. The ex-dividend date of this dividend is Thursday, September 12th.

Evans Bancorp has raised its dividend payment by an average of 4.4% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Evans Bancorp has a dividend payout ratio of 57.4% indicating that its dividend is sufficiently covered by earnings.

Evans Bancorp Stock Up 1.5 %

EVBN stock traded up $0.51 during mid-day trading on Thursday, reaching $34.10. 2,892 shares of the company traded hands, compared to its average volume of 25,298. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $35.47. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $188.23 million, a PE ratio of 8.90 and a beta of 0.92.

Evans Bancorp (NYSEAMERICAN:EVBN) last issued its quarterly earnings data on Tuesday, July 30th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.38 by $0.15. 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.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on Evans Bancorp from $26.50 to $30.50 and gave the company a “market perform” rating in a research report on Thursday, August 1st. StockNews.com upgraded Evans Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler lowered their price objective on Evans Bancorp from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st.

Insiders Place Their Bets

In related news, major shareholder Pl Capital Advisors, Llc purchased 7,800 shares of Evans Bancorp stock in a transaction dated Tuesday, June 4th. The stock was purchased at an average cost of $25.96 per share, for a total transaction of $202,488.00. Following the completion of the purchase, the insider now directly owns 604,979 shares of the company’s stock, valued at approximately $15,705,254.84. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders acquired 35,841 shares of company stock valued at $979,467. 6.34% of the stock is owned by 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.