StockNews.com Initiates Coverage on Evans Bancorp (NYSE:EVBN)

Equities researchers at StockNews.com started coverage on shares of Evans Bancorp (NYSE:EVBN) in a report issued on Thursday. The firm set a “hold” rating on the stock.

Evans Bancorp Stock Performance

EVBN opened at $34.91 on Thursday. Evans Bancorp has a one year low of $24.07 and a one year high of $46.21. 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 $194.34 million, a PE ratio of 16.24 and a beta of 0.74. The business’s 50-day moving average price is $40.48.

Insider Activity

In related news, CEO David J. Nasca sold 1,434 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $38.81, for a total value of $55,653.54. Following the completion of the sale, the chief executive officer now owns 104,431 shares in the company, valued at $4,052,967.11. This represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EVBN. Wells Fargo & Company MN boosted its stake in shares of Evans Bancorp by 68,200.0% during the fourth quarter. Wells Fargo & Company MN now owns 683 shares of the company’s stock worth $30,000 after buying an additional 682 shares during the period. Legal & General Group Plc purchased a new stake in Evans Bancorp during the 4th quarter valued at approximately $95,000. XTX Topco Ltd purchased a new stake in Evans Bancorp during the 4th quarter valued at approximately $249,000. Ritholtz Wealth Management lifted its position in Evans Bancorp by 25.3% during 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 period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Evans Bancorp in the 4th quarter valued at approximately $349,000. 67.10% of the stock is owned by hedge funds and other 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.