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

Analysts at StockNews.com initiated coverage on shares of Evans Bancorp (NYSE:EVBN) in a report released on Wednesday. The brokerage set a “hold” rating on the stock.

Evans Bancorp Price Performance

Shares of NYSE EVBN opened at $38.67 on Wednesday. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $46.21. The firm has a market capitalization of $215.28 million, a price-to-earnings ratio of 17.99 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. The stock has a fifty day moving average of $41.88.

Insiders Place Their Bets

In other news, CEO David J. Nasca sold 1,434 shares of Evans Bancorp stock in a transaction that occurred 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 sale, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Evans Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. PL Capital Advisors LLC boosted its position in Evans Bancorp by 4,230.0% during the 4th quarter. PL Capital Advisors LLC now owns 26,489,165 shares of the company’s stock worth $1,146,981,000 after acquiring an additional 25,877,406 shares during the period. Chicago Capital Management LLC bought a new stake in shares of Evans Bancorp during the fourth quarter valued at about $8,475,000. Credit Industriel ET Commercial acquired a new stake in Evans Bancorp in the fourth quarter worth about $5,257,000. Susquehanna International Group LLP grew its position in Evans Bancorp by 267.3% in the 4th quarter. Susquehanna International Group LLP now owns 113,973 shares of the company’s stock valued at $4,935,000 after buying an additional 82,947 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new position in Evans Bancorp during the 4th quarter valued at about $2,417,000. 67.10% of the stock is owned by institutional investors.

Evans Bancorp Company Profile

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.