Evans Bancorp (NYSEAMERICAN:EVBN) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

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Evans Bancorp (NYSEAMERICAN:EVBN) posted its quarterly earnings data on Thursday. The bank reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06, Morningstar.com reports. The firm had revenue of $17.86 million for the quarter.

Evans Bancorp stock traded up $0.43 during trading on Friday, hitting $35.75. 41,200 shares of the company were exchanged, compared to its average volume of 5,456. Evans Bancorp has a 52 week low of $30.61 and a 52 week high of $47.95.

In other Evans Bancorp news, insider David J. Nasca sold 13,079 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $36.00, for a total value of $470,844.00. Following the transaction, the insider now owns 72,926 shares of the company’s stock, valued at $2,625,336. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 14,588 shares of company stock valued at $523,976 in the last quarter.

A number of institutional investors and hedge funds have recently modified their holdings of EVBN. BNP Paribas Arbitrage SA lifted its holdings in Evans Bancorp by 555.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 990 shares of the bank’s stock worth $35,000 after purchasing an additional 839 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Evans Bancorp by 224.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,031 shares of the bank’s stock worth $37,000 after purchasing an additional 713 shares in the last quarter. Bank of America Corp DE increased its stake in Evans Bancorp by 58.6% in the 4th quarter. Bank of America Corp DE now owns 3,408 shares of the bank’s stock worth $111,000 after acquiring an additional 1,259 shares during the last quarter. Rhumbline Advisers increased its stake in Evans Bancorp by 44.9% in the 4th quarter. Rhumbline Advisers now owns 6,752 shares of the bank’s stock worth $220,000 after acquiring an additional 2,093 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in Evans Bancorp by 7.7% in the 1st quarter. Acadian Asset Management LLC now owns 9,985 shares of the bank’s stock worth $356,000 after acquiring an additional 712 shares during the last quarter.

Separately, Hovde Group downgraded Evans Bancorp from an “outperform” rating to a “market perform” rating in a report on Friday, July 12th.

Evans Bancorp Company Profile

Evans Bancorp, Inc offers banking products and services. The company offers demand deposits and interest and non-interest bearing time and savings deposits. The company's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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Earnings History for Evans Bancorp (NYSEAMERICAN:EVBN)

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