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

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

Evans Bancorp Stock Up 0.0 %

Shares of NYSE:EVBN opened at $39.69 on Tuesday. Evans Bancorp has a twelve month low of $24.07 and a twelve month high of $46.21. The stock’s 50 day moving average price is $42.25. 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 capitalization of $220.95 million, a price-to-earnings ratio of 18.46 and a beta of 0.97.

Evans Bancorp Dividend Announcement

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

Insider Transactions at Evans Bancorp

In other Evans Bancorp news, CEO David J. Nasca sold 1,434 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was 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 in the company, valued at approximately $4,052,967.11. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.34% of the stock is currently owned by insiders.

Institutional Trading of Evans Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in EVBN. PL Capital Advisors LLC grew its position 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 in the last quarter. Chicago Capital Management LLC bought a new position in shares of Evans Bancorp in the fourth quarter valued at approximately $8,475,000. Credit Industriel ET Commercial purchased a new stake in shares of Evans Bancorp during the fourth quarter valued at approximately $5,257,000. Susquehanna International Group LLP lifted its holdings in Evans Bancorp by 267.3% during the fourth quarter. Susquehanna International Group LLP now owns 113,973 shares of the company’s stock worth $4,935,000 after acquiring an additional 82,947 shares during the period. Finally, ABC Arbitrage SA purchased a new position in Evans Bancorp in the fourth quarter worth $2,417,000. 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.