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

StockNews.com assumed coverage on shares of Evans Bancorp (NYSE:EVBN) in a report released on Saturday. The firm issued a hold rating on the stock.

Evans Bancorp Price Performance

Shares of EVBN opened at $38.63 on Friday. The stock’s 50-day moving average is $38.77. The firm has a market capitalization of $215.05 million, a PE ratio of 17.97 and a beta of 0.74. Evans Bancorp has a 12 month low of $24.07 and a 12 month 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 Dividend Announcement

The firm also recently declared a semi-annual dividend, which was paid on Thursday, April 10th. Investors 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 (DPR) is 61.40%.

Insider Activity at Evans Bancorp

In other Evans Bancorp news, CEO David J. Nasca sold 1,434 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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 document filed with the SEC, which is available at the SEC website. 6.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Evans Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in EVBN. Wells Fargo & Company MN boosted its stake in shares of Evans Bancorp by 68,200.0% during the 4th quarter. Wells Fargo & Company MN now owns 683 shares of the company’s stock valued at $30,000 after buying an additional 682 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Evans Bancorp during the 4th quarter valued at approximately $95,000. XTX Topco Ltd purchased a new position in shares of Evans Bancorp during the 4th quarter valued at approximately $249,000. Ritholtz Wealth Management boosted its stake 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 valued at $304,000 after buying an additional 1,417 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Evans Bancorp during the 4th quarter valued at approximately $349,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

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.