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

StockNews.com initiated coverage on shares of Evans Bancorp (NYSE:EVBN) in a research note published on Monday morning. The brokerage issued a hold rating on the stock.

Evans Bancorp Price Performance

Shares of EVBN opened at $39.41 on Monday. 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 stock’s 50 day simple moving average is $42.62. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $46.21. The stock has a market cap of $219.40 million, a PE ratio of 18.33 and a beta of 0.97.

Evans Bancorp Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 10th. Investors 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 dividend payout ratio (DPR) is currently 61.40%.

Insider Buying and Selling

In related 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 sale, the chief executive officer now owns 104,431 shares in the company, valued at approximately $4,052,967.11. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Evans Bancorp

Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its holdings in shares of Evans Bancorp by 68,200.0% in the 4th quarter. Wells Fargo & Company MN now owns 683 shares of the company’s stock valued at $30,000 after purchasing an additional 682 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Evans Bancorp in the 4th quarter valued at $95,000. XTX Topco Ltd acquired a new position in shares of Evans Bancorp in the 4th quarter valued at $249,000. Ritholtz Wealth Management boosted 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 valued at $304,000 after purchasing an additional 1,417 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Evans Bancorp in the 4th quarter valued at $349,000. 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.