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

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

Evans Bancorp Stock Up 2.4 %

NYSE EVBN traded up $0.93 during trading hours on Friday, hitting $39.53. 34,406 shares of the stock were exchanged, compared to its average volume of 23,069. 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 has a 12-month low of $24.80 and a 12-month high of $46.21. The company has a market cap of $220.06 million, a P/E ratio of 18.39 and a beta of 0.71. The stock has a 50-day moving average of $38.18.

Insider Buying and Selling at Evans Bancorp

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 sale, the chief executive officer now directly owns 104,431 shares of the company's stock, valued at approximately $4,052,967.11. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in 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 purchasing an additional 275 shares during the period. Wells Fargo & Company MN lifted its position 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 worth $30,000 after buying an additional 682 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Evans Bancorp by 7.8% in the 4th quarter. Northern Trust Corp now owns 11,495 shares of the company's stock valued at $498,000 after buying an additional 832 shares during the period. Ritholtz Wealth Management grew its position in shares of Evans Bancorp by 25.3% during the 4th quarter. Ritholtz Wealth Management now owns 7,022 shares of the company's stock valued at $304,000 after buying an additional 1,417 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake 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 acquiring an additional 1,817 shares during the period. 67.10% of the stock is currently owned by 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.