Evans Bancorp Inc (NYSE:EVBN) Stake Lessened by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its position in shares of Evans Bancorp Inc (NYSE:EVBN - Free Report) by 28.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 166,829 shares of the company's stock after selling 66,856 shares during the period. Alliancebernstein L.P. owned 3.01% of Evans Bancorp worth $7,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ritholtz Wealth Management increased its stake in Evans Bancorp by 25.3% in the fourth 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. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Evans Bancorp by 8.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 24,362 shares of the company's stock worth $1,055,000 after acquiring an additional 1,817 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Evans Bancorp by 15.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 29,542 shares of the company's stock worth $1,279,000 after acquiring an additional 3,921 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Evans Bancorp by 44.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,402 shares of the company's stock worth $580,000 after purchasing an additional 4,133 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Evans Bancorp during the fourth quarter worth approximately $657,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Evans Bancorp Price Performance

NYSE EVBN traded up $0.26 during mid-day trading on Thursday, hitting $36.17. The company's stock had a trading volume of 1,205 shares, compared to its average volume of 23,619. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. Evans Bancorp Inc has a 52-week low of $24.07 and a 52-week high of $46.21. The company has a fifty day moving average price of $39.80. The stock has a market cap of $201.36 million, a price-to-earnings ratio of 16.82 and a beta of 0.74.

Evans Bancorp Dividend Announcement

The firm also recently declared 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 of this dividend was Thursday, March 13th. This represents a yield of 3.1%. Evans Bancorp's dividend payout ratio (DPR) is 61.40%.

Insider Activity at Evans Bancorp

In other news, CEO David J. Nasca sold 1,434 shares of the stock in a transaction dated Thursday, March 13th. The stock was 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 approximately $4,052,967.11. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Evans Bancorp in a research report on Thursday, April 10th. They issued a "hold" rating on the 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.