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

StockNews.com started coverage on shares of Evans Bancorp (NYSE:EVBN) in a research report released on Monday. The brokerage issued a hold rating on the stock.

Evans Bancorp Stock Up 0.6 %

Shares of EVBN stock opened at $39.52 on Monday. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $46.21. The firm has a 50-day moving average of $42.48. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $220.01 million, a PE ratio of 18.38 and a beta of 0.97.

Evans Bancorp Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th will be given 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 currently 61.40%.

Insiders Place Their Bets

In other news, CEO David J. Nasca sold 1,434 shares of the firm’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 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 company insiders.

Institutional Trading of Evans Bancorp

A number of large investors have recently made changes to their positions in EVBN. Ritholtz Wealth Management grew its position in shares of Evans Bancorp by 25.3% in 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 during the period. PL Capital Advisors LLC boosted its holdings in shares of 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 valued at $1,146,981,000 after purchasing an additional 25,877,406 shares during the last quarter. ABC Arbitrage SA acquired a new position in shares of Evans Bancorp in the 4th quarter valued at $2,417,000. Legal & General Group Plc purchased a new stake in shares of Evans Bancorp during the 4th quarter valued at $95,000. Finally, XTX Topco Ltd acquired a new stake in shares of Evans Bancorp during the 4th quarter worth $249,000. Institutional investors and hedge funds 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.