Evans Bancorp (NYSE:EVBN) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Evans Bancorp (NYSE:EVBN) in a research report report published on Friday morning. The brokerage issued a hold rating on the stock.

Evans Bancorp Stock Up 0.5 %

Shares of NYSE EVBN opened at $36.10 on Friday. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $46.21. The company has a market capitalization of $200.97 million, a PE ratio of 16.79 and a beta of 0.74. 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 stock’s fifty day moving average price is $39.48.

Evans Bancorp Announces Dividend

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

Insider Transactions at Evans Bancorp

In other news, CEO David J. Nasca sold 1,434 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $38.81, for a total value of $55,653.54. Following the completion of the transaction, the chief executive officer now owns 104,431 shares in the company, valued at $4,052,967.11. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Evans Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 purchasing an additional 682 shares during the period. Legal & General Group Plc bought a new position in shares of Evans Bancorp during the fourth quarter worth about $95,000. XTX Topco Ltd bought a new position in shares of Evans Bancorp during the fourth quarter worth about $249,000. Ritholtz Wealth Management raised its position in Evans Bancorp by 25.3% in the 4th quarter. Ritholtz Wealth Management now owns 7,022 shares of the company’s stock valued at $304,000 after buying an additional 1,417 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in 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.