Evans Bancorp (NYSE:EVBN) Earns Hold Rating from Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Evans Bancorp (NYSE:EVBN) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the stock.

Evans Bancorp Stock Down 0.7 %

Shares of EVBN stock opened at $39.40 on Tuesday. Evans Bancorp has a 12 month low of $24.07 and a 12 month high of $46.21. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $219.34 million, a price-to-earnings ratio of 18.33 and a beta of 0.97. The stock’s 50 day simple moving average is $42.19.

Insiders Place Their Bets

In other Evans Bancorp news, CEO David J. Nasca sold 1,434 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $38.81, for a total value of $55,653.54. Following the completion of the sale, the chief executive officer now owns 104,431 shares in the company, valued at approximately $4,052,967.11. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EVBN. Wells Fargo & Company MN raised its stake in shares of Evans Bancorp by 68,200.0% in the 4th quarter. Wells Fargo & Company MN now owns 683 shares of the company’s stock valued at $30,000 after buying an additional 682 shares in the last quarter. Legal & General Group Plc acquired a new position in Evans Bancorp in the fourth quarter worth about $95,000. XTX Topco Ltd bought a new position in Evans Bancorp during the fourth quarter worth about $249,000. Ritholtz Wealth Management boosted its holdings in Evans Bancorp by 25.3% during the fourth quarter. Ritholtz Wealth Management now owns 7,022 shares of the company’s stock valued at $304,000 after purchasing an additional 1,417 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Evans Bancorp in the 4th quarter valued at approximately $349,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

About Evans Bancorp

Evans Bancorp, Inc primarily operates as the financial holding company for Evans Bank, N.A. that provides a range of banking products and services to consumer and commercial customers in Western New York and the Finger Lakes Region of New York State. It operates in two segments, Banking Activities and Insurance Agency Activities.