195,739 Shares in Evans Bancorp Inc (NYSE:EVBN) Purchased by Chicago Capital Management LLC

Chicago Capital Management LLC bought a new stake in shares of Evans Bancorp Inc (NYSE:EVBN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 195,739 shares of the company’s stock, valued at approximately $8,475,000. Evans Bancorp accounts for approximately 5.2% of Chicago Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Chicago Capital Management LLC owned about 3.53% of Evans Bancorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EVBN. Ritholtz Wealth Management raised its position 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 buying an additional 1,417 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Evans Bancorp in the 4th quarter valued at approximately $657,000. Commonwealth Equity Services LLC lifted its position in shares of Evans Bancorp by 15.3% in the 4th 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 period. ABC Arbitrage SA acquired a new stake in shares of Evans Bancorp during the 4th quarter worth approximately $2,417,000. Finally, American Century Companies Inc. increased its position in shares of Evans Bancorp by 89.7% during the fourth quarter. American Century Companies Inc. now owns 69,408 shares of the company’s stock valued at $3,005,000 after purchasing an additional 32,822 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Evans Bancorp in a research report on Tuesday. They issued a “hold” rating for the company.

Insider Buying and Selling

In related news, CEO David J. Nasca sold 1,434 shares of Evans Bancorp 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 transaction, the chief executive officer now directly owns 104,431 shares of the company’s stock, valued at $4,052,967.11. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.34% of the stock is owned by corporate insiders.

Evans Bancorp Stock Up 0.0 %

NYSE:EVBN opened at $39.69 on Wednesday. The firm has a market capitalization of $220.95 million, a price-to-earnings ratio of 18.46 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99. Evans Bancorp Inc has a 12-month low of $24.07 and a 12-month high of $46.21. The business has a 50-day simple moving average of $42.25.

Evans Bancorp Announces Dividend

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

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.