Short Interest in Evans Bancorp Inc. (NYSEAMERICAN:EVBN) Increases By 9.6%

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Evans Bancorp Inc. (NYSEAMERICAN:EVBN) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 17,200 shares, a growth of 9.6% from the July 31st total of 15,700 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,400 shares, the days-to-cover ratio is presently 3.2 days.

In other news, Director Robert G. Miller, Jr. sold 2,518 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $35.98, for a total transaction of $90,597.64. Following the sale, the director now directly owns 73,734 shares in the company, valued at approximately $2,652,949.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

A number of large investors have recently modified their holdings of the stock. Maltese Capital Management LLC grew its holdings in Evans Bancorp by 10.7% during the 2nd quarter. Maltese Capital Management LLC now owns 274,691 shares of the bank’s stock valued at $10,364,000 after purchasing an additional 26,640 shares during the last quarter. BlackRock Inc. grew its holdings in Evans Bancorp by 1.2% during the 2nd quarter. BlackRock Inc. now owns 233,241 shares of the bank’s stock valued at $8,802,000 after purchasing an additional 2,873 shares during the last quarter. Northern Trust Corp grew its holdings in Evans Bancorp by 2.9% during the 2nd quarter. Northern Trust Corp now owns 51,768 shares of the bank’s stock valued at $1,953,000 after purchasing an additional 1,472 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Evans Bancorp by 6.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,412 shares of the bank’s stock valued at $431,000 after purchasing an additional 700 shares during the last quarter. Finally, LSV Asset Management grew its holdings in Evans Bancorp by 23.1% during the 2nd quarter. LSV Asset Management now owns 8,000 shares of the bank’s stock valued at $301,000 after purchasing an additional 1,500 shares during the last quarter.

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

Shares of NYSEAMERICAN EVBN opened at $36.08 on Monday. Evans Bancorp has a 12-month low of $30.61 and a 12-month high of $47.50.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its earnings results on Thursday, July 25th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. The business had revenue of $17.86 million for the quarter.

The company also recently declared a — dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 10th. This represents a yield of 3.1%.

About Evans Bancorp

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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