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

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

Evans Bancorp Stock Performance

Evans Bancorp stock opened at $43.34 on Tuesday. The stock has a market cap of $240.10 million, a P/E ratio of 13.02 and a beta of 0.92. 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 has a 52 week low of $24.07 and a 52 week high of $46.21.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Evans Bancorp stock. Ritholtz Wealth Management grew its stake in Evans Bancorp Inc (NYSE:EVBN) by 25.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,022 shares of the company’s stock after buying an additional 1,417 shares during the period. Ritholtz Wealth Management owned approximately 0.13% of Evans Bancorp worth $304,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 67.10% of the company’s stock.

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.