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David J. Nasca, President and CEO of Evans Bancorp Inc . (NYSE:EVBN), recently sold 1,434 shares of the company’s common stock. The shares were sold at an average price of $38.81, totaling approximately $55,655. Following this transaction, Nasca’s direct ownership stands at 104,430.76 shares. According to InvestingPro data, Evans Bancorp has maintained dividend payments for 25 consecutive years, currently offering a 3.38% yield. The stock has shown strong performance with a 39% return over the past year.
On the same day, Nasca also acquired 1,434 shares through an option exercise at $24.72 per share, which reflects a total transaction value of $35,448. This acquisition and subsequent sale were part of regular transactions, with no equity swaps involved. InvestingPro analysis shows the company remains profitable with positive earnings forecasts for the coming year. Discover more insights and 12+ additional ProTips about Evans Bancorp with an InvestingPro subscription.
In other recent news, Evans Bancorp has declared a cash dividend of $0.66 per share, set to be paid on April 10, 2025, to shareholders of record as of March 13, 2025. This dividend announcement aligns with Evans Bancorp’s ongoing strategy to enhance shareholder value. In a related development, the company is in the process of merging with NBT Bancorp (NASDAQ:NBTB), with the merger expected to conclude in the second quarter of 2025. Regulatory approvals have been secured, and the merger will coincide with a systems conversion. To address legal concerns regarding the merger, Evans Bancorp and NBT Bancorp have issued supplemental disclosures to shareholders, despite denying any legal obligation to do so. These disclosures provide additional financial data and context to mitigate potential litigation risks. An analyst from Keefe, Bruyette & Woods has maintained a Market Perform rating on Evans Bancorp, reflecting confidence in the merger’s smooth transition. The merger, once completed, will see Evans Bancorp merging into NBT Bancorp, with NBT as the surviving entity.
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