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

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

Evans Bancorp Stock Up 0.4 %

NYSE:EVBN opened at $39.56 on Tuesday. 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 business’s 50-day moving average price is $42.05. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $46.21. The firm has a market capitalization of $220.23 million, a price-to-earnings ratio of 18.40 and a beta of 0.97.

Evans Bancorp Announces Dividend

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

Insiders Place Their Bets

In related news, CEO David J. Nasca sold 1,434 shares of the business’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 transaction of $55,653.54. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.34% of the company’s stock.

Hedge Funds Weigh In On Evans Bancorp

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new stake in shares of Evans Bancorp during the 4th quarter valued at about $657,000. Chicago Capital Management LLC bought a new position in shares of Evans Bancorp in the 4th quarter valued at approximately $8,475,000. PL Capital Advisors LLC lifted its holdings 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 purchasing an additional 25,877,406 shares during the last quarter. Ritholtz Wealth Management boosted 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 worth $304,000 after purchasing an additional 1,417 shares during the period. Finally, ABC Arbitrage SA bought a new position in shares of Evans Bancorp in the fourth quarter valued at approximately $2,417,000. 67.10% of the stock is 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.