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

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

Evans Bancorp Stock Performance

EVBN opened at $39.52 on Monday. 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 company has a market cap of $220.01 million, a P/E ratio of 18.38 and a beta of 0.97. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $46.21. The business has a 50-day moving average of $42.48.

Evans Bancorp Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be given a dividend of $0.66 per share. This represents a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, March 13th. Evans Bancorp’s dividend payout ratio is currently 61.40%.

Insiders Place Their Bets

In other news, CEO David J. Nasca sold 1,434 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $38.81, for a total value of $55,653.54. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Evans Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of EVBN. Ritholtz Wealth Management grew its holdings in shares of 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 during the last quarter. ABC Arbitrage SA bought a new position in Evans Bancorp during the 4th quarter worth $2,417,000. Bank of New York Mellon Corp acquired a new stake in Evans Bancorp in the fourth quarter worth $657,000. PL Capital Advisors LLC lifted its stake in Evans Bancorp by 4,230.0% in the fourth quarter. PL Capital Advisors LLC now owns 26,489,165 shares of the company’s stock valued at $1,146,981,000 after buying an additional 25,877,406 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of Evans Bancorp by 15.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 29,542 shares of the company’s stock worth $1,279,000 after acquiring an additional 3,921 shares during the last quarter. 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.