Evans Bancorp (NYSE:EVBN) Trading 2.4% Higher – Here’s Why

Evans Bancorp Inc (NYSE:EVBN)’s share price was up 2.4% during mid-day trading on Thursday . The company traded as high as $39.68 and last traded at $39.53. Approximately 34,406 shares traded hands during mid-day trading, an increase of 49% from the average daily volume of 23,069 shares. The stock had previously closed at $38.60.

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on Evans Bancorp in a research report on Tuesday, May 20th. They issued a “hold” rating on the stock.

Evans Bancorp Stock Performance

The company has a market capitalization of $220.06 million, a PE ratio of 18.39 and a beta of 0.71. The company has a 50-day moving average of $39.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Chicago Capital Management LLC acquired a new position in shares of Evans Bancorp during the 4th quarter worth approximately $8,475,000. Dimensional Fund Advisors LP boosted its stake in shares of Evans Bancorp by 11.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 173,234 shares of the company’s stock worth $7,501,000 after acquiring an additional 18,233 shares during the period. Credit Industriel ET Commercial bought a new position in shares of Evans Bancorp during the 4th quarter worth approximately $5,257,000. Susquehanna International Group LLP boosted its stake in shares of Evans Bancorp by 267.3% during the 4th 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, American Century Companies Inc. boosted its stake in shares of Evans Bancorp by 28.8% during the 1st quarter. American Century Companies Inc. now owns 89,429 shares of the company’s stock worth $3,485,000 after acquiring an additional 20,021 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.