Evans Bancorp (NYSE:EVBN) Earns Hold Rating from Analysts at StockNews.com

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

Evans Bancorp Stock Down 0.9 %

EVBN stock opened at $44.20 on Wednesday. Evans Bancorp has a fifty-two week low of $24.07 and a fifty-two week high of $46.21. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $244.87 million, a P/E ratio of 13.27 and a beta of 0.92.

Hedge Funds Weigh In On Evans Bancorp

A number of institutional investors have recently modified their holdings of the company. 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 valued at $1,146,981,000 after purchasing an additional 25,877,406 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Evans Bancorp during the fourth quarter valued at about $657,000. ABC Arbitrage SA bought a new stake in shares of Evans Bancorp during the fourth quarter worth about $2,417,000. Finally, Ritholtz Wealth Management raised its holdings in shares of Evans Bancorp by 25.3% in the 4th quarter. Ritholtz Wealth Management now owns 7,022 shares of the company’s stock worth $304,000 after acquiring an additional 1,417 shares during the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

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.