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

Research analysts at StockNews.com began coverage on shares of Evans Bancorp (NYSE:EVBN) in a report released on Monday. The firm set a “hold” rating on the stock.

Evans Bancorp Price Performance

NYSE EVBN opened at $39.28 on Monday. The business has a 50 day moving average price of $42.48. The stock has a market cap of $218.67 million, a PE ratio of 18.27 and a beta of 0.97. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $46.21.

Insider Buying and Selling at Evans Bancorp

In other news, CEO David J. Nasca sold 1,434 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 104,431 shares of the company’s stock, valued at $4,052,967.11. This represents a 1.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.34% of the company’s stock.

Institutional Trading of Evans Bancorp

Hedge funds have recently made changes to their positions in the stock. Ritholtz Wealth Management raised its position 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. ABC Arbitrage SA bought a new position in shares of Evans Bancorp during the 4th quarter valued at about $2,417,000. Bank of New York Mellon Corp purchased a new position in shares of Evans Bancorp during the 4th quarter valued at about $657,000. PL Capital Advisors LLC lifted its position in Evans Bancorp by 4,230.0% in the 4th quarter. PL Capital Advisors LLC now owns 26,489,165 shares of the company’s stock worth $1,146,981,000 after buying an additional 25,877,406 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted 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 worth $1,279,000 after buying an additional 3,921 shares in the last quarter. 67.10% of the stock is owned by institutional investors.

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.