Evans Bancorp (NYSE:EVBN) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Evans Bancorp (NYSE:EVBN) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the stock.

Evans Bancorp Stock Performance

Shares of EVBN opened at $34.91 on Thursday. The stock’s 50 day moving average price is $40.31. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $194.34 million, a PE ratio of 16.24 and a beta of 0.74. Evans Bancorp has a one year low of $24.07 and a one year high of $46.21.

Evans Bancorp Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th were paid a $0.66 dividend. This represents a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, March 13th. Evans Bancorp’s dividend payout ratio is currently 61.40%.

Insider Buying and Selling

In other Evans Bancorp news, CEO David J. Nasca sold 1,434 shares of the firm’s stock in a transaction 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 directly owns 104,431 shares of the company’s stock, valued at $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 is available through this hyperlink. 6.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

Evans Bancorp Company Profile

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.