In a recent transaction, PL Capital Advisors, LLC, an investment advisory firm, has increased its holdings in Evans Bancorp Inc (NYSEAMERICAN:NYSE:EVBN) by purchasing additional shares. The transaction involved the acquisition of 100 shares of common stock at a price of $25.65 per share, amounting to a total investment of $2,565.
The purchase was made on May 31, 2024, by PL Capital Advisors, which is known for serving as an investment adviser to various investment partnerships, funds, and managed accounts. This transaction has been disclosed in a filing with the Securities and Exchange Commission (SEC), which provides transparency into the trading activities of the company's insiders and significant shareholders.
The SEC filing also indicated that PL Capital Advisors has sole voting and dispositive power over the shares held by its clients. This power is deemed to be shared with the firm's managing members, Richard J. Lashley and John W. Palmer, who are also responsible for the investment management through their control over the affairs of PL Capital Advisors. It's important to note that the clients of PL Capital Advisors do not possess the right to acquire voting or dispositive power over the common stock within sixty days.
After the completion of this transaction, the total number of shares owned by PL Capital Advisors in Evans Bancorp stands at 597,179. The shares are held indirectly, as indicated by the footnotes in the SEC filing, due to the nature of PL Capital Advisors' business and its role as an investment adviser.
Investors often monitor such transactions as they can provide insight into how insiders and significant shareholders view the stock's value and prospects. However, it's important to consider that there are many factors that can influence an insider's decision to buy or sell stock, and such transactions do not always predict future stock performance.
Evans Bancorp Inc, based in Hamburg, New York, operates as the holding company for Evans Bank, N.A., providing banking products and services to its customers. The company's stock is traded on the NYSE American under the ticker symbol EVBN.
InvestingPro Insights
As PL Capital Advisors, LLC increases its stake in Evans Bancorp Inc (NYSEAMERICAN:EVBN), investors may find additional context in the company's financial health and market performance through InvestingPro metrics and tips. Evans Bancorp's commitment to shareholder returns is evident, as the company has raised its dividend for 10 consecutive years and has maintained dividend payments for 24 consecutive years. Moreover, the company's current price-to-earnings (P/E) ratio stands at a modest 6.54, indicating that the stock is trading at a low earnings multiple compared to industry peers.
From a valuation standpoint, Evans Bancorp's price-to-book (P/B) ratio of 0.9 suggests that the stock may be undervalued, as it trades below its book value. This could present an opportunity for investors seeking assets that may be trading at a discount. Additionally, while analysts anticipate a sales decline in the current year, the company's operating income margin remains strong at 36.13%, reflecting its ability to manage expenses and maintain profitability.
Investors interested in further insights can access additional InvestingPro Tips for Evans Bancorp, which include analysis on sales trends, profitability forecasts, and gross profit margins. These tips can provide a deeper understanding of the company's financial trajectory and market position. There are currently 7 more InvestingPro Tips available for Evans Bancorp, which can be accessed at https://www.investing.com/pro/EVBN. To enhance your investment research, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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