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Evans Bancorp (NYSE:EVBN) Coverage Initiated at StockNews.com

Evans Bancorp logo with Finance background

Equities researchers at StockNews.com started coverage on shares of Evans Bancorp (NYSE:EVBN - Get Free Report) in a report issued on Sunday. The firm set a "hold" rating on the stock.

Evans Bancorp Price Performance

Evans Bancorp stock traded up $0.93 during mid-day trading on Friday, reaching $39.53. 34,406 shares of the company traded hands, compared to its average volume of 23,069. Evans Bancorp has a fifty-two week low of $24.80 and a fifty-two week high of $46.21. The company has a fifty day moving average price of $38.33. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $220.06 million, a P/E ratio of 18.39 and a beta of 0.71.

Insiders Place Their Bets

In related news, CEO David J. Nasca sold 1,434 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 104,431 shares of the company's stock, valued at $4,052,967.11. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Evans Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake 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 stake in shares of Evans Bancorp by 68,200.0% during the 4th quarter. Wells Fargo & Company MN now owns 683 shares of the company's stock worth $30,000 after purchasing an additional 682 shares during the period. Northern Trust Corp increased its holdings in shares of Evans Bancorp by 7.8% during the 4th quarter. Northern Trust Corp now owns 11,495 shares of the company's stock valued at $498,000 after purchasing an additional 832 shares in the last quarter. Ritholtz Wealth Management lifted its stake 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 period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Evans Bancorp by 8.1% during 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 in the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

About Evans Bancorp

(Get Free Report)

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.

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