Credit Industriel ET Commercial Purchases New Position in Evans Bancorp Inc (NYSE:EVBN)

Credit Industriel ET Commercial acquired a new stake in shares of Evans Bancorp Inc (NYSE:EVBN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 121,420 shares of the company's stock, valued at approximately $5,257,000. Evans Bancorp accounts for about 0.7% of Credit Industriel ET Commercial's investment portfolio, making the stock its 16th largest holding. Credit Industriel ET Commercial owned about 2.19% of Evans Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EVBN. Barclays PLC boosted its holdings in shares of Evans Bancorp by 1.7% in the fourth quarter. Barclays PLC now owns 16,438 shares of the company's stock worth $712,000 after buying an additional 275 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Evans Bancorp by 68,200.0% during the fourth 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 period. Ritholtz Wealth Management increased its position in Evans Bancorp by 25.3% in the fourth quarter. Ritholtz Wealth Management now owns 7,022 shares of the company's stock worth $304,000 after buying an additional 1,417 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Evans Bancorp by 8.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,362 shares of the company's stock worth $1,055,000 after buying an additional 1,817 shares during the period. Finally, Legal & General Group Plc purchased a new position in shares of Evans Bancorp during the 4th quarter valued at about $95,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

Insider Activity at Evans Bancorp

In other Evans Bancorp 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 value of $55,653.54. Following the sale, the chief executive officer now owns 104,431 shares of the company's stock, valued at $4,052,967.11. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Evans Bancorp in a report on Saturday. They set a "hold" rating on the stock.

Evans Bancorp Stock Performance

Shares of Evans Bancorp stock traded up $0.25 during trading hours on Tuesday, hitting $38.88. The company's stock had a trading volume of 6,005 shares, compared to its average volume of 23,178. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86. Evans Bancorp Inc has a 12-month low of $24.07 and a 12-month high of $46.21. The stock has a 50 day moving average price of $38.77. The firm has a market cap of $216.44 million, a P/E ratio of 18.08 and a beta of 0.74.

Evans Bancorp Dividend Announcement

The business also recently announced a semi-annual dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 13th were given a dividend of $0.66 per share. The ex-dividend date was Thursday, March 13th. This represents a dividend yield of 3.1%. Evans Bancorp's dividend payout ratio is 61.40%.

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.