Insider Selling: Evans Bancorp Inc (NYSE:EVBN) CEO Sells $55,653.54 in Stock

Evans Bancorp Inc (NYSE:EVBN) CEO David J. Nasca sold 1,434 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $38.81, for a total transaction 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 approximately $4,052,967.11. The trade was a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Evans Bancorp Stock Performance

Shares of Evans Bancorp stock opened at $39.01 on Friday. The company has a 50-day simple moving average of $42.62. The company has a market capitalization of $217.17 million, a PE ratio of 18.14 and a beta of 0.97. Evans Bancorp Inc has a 52-week low of $24.07 and a 52-week high of $46.21. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99.

Evans Bancorp Announces Dividend

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

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Evans Bancorp in a research report on Sunday, March 9th. They issued a “hold” rating for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EVBN. Ritholtz Wealth Management raised its stake in Evans Bancorp by 25.3% in 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. ABC Arbitrage SA acquired a new position in Evans Bancorp in the fourth quarter valued at about $2,417,000. Bank of New York Mellon Corp acquired a new position in Evans Bancorp in the fourth quarter valued at about $657,000. PL Capital Advisors LLC raised 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 purchasing an additional 25,877,406 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Evans Bancorp by 15.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 29,542 shares of the company’s stock valued at $1,279,000 after purchasing an additional 3,921 shares in 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.