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

StockNews.com started coverage on shares of Evans Bancorp (NYSE:EVBN - Free Report) in a research note released on Saturday morning. The firm issued a hold rating on the stock.

Evans Bancorp Trading Up 0.4 %

NYSE EVBN traded up $0.15 during trading hours on Friday, reaching $38.60. 9,380 shares of the company traded hands, compared to its average volume of 22,931. The stock has a market capitalization of $214.89 million, a PE ratio of 17.95 and a beta of 0.74. 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 has a 12 month low of $24.27 and a 12 month high of $46.21. The stock has a 50 day simple moving average of $38.53.

Evans Bancorp Announces Dividend

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

Insiders Place Their Bets

In related news, CEO David J. Nasca sold 1,434 shares of the firm's 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 approximately $4,052,967.11. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Evans Bancorp

Several large investors have recently added to or reduced their stakes in EVBN. Barclays PLC grew its position in shares of Evans Bancorp by 1.7% during the fourth quarter. Barclays PLC now owns 16,438 shares of the company's stock worth $712,000 after acquiring an additional 275 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Evans Bancorp by 68,200.0% during the 4th 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. Northern Trust Corp grew its position in Evans Bancorp by 7.8% in the 4th quarter. Northern Trust Corp now owns 11,495 shares of the company's stock worth $498,000 after purchasing an additional 832 shares during the last quarter. Ritholtz Wealth Management increased its stake in shares of 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 period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Evans Bancorp by 8.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,362 shares of the company's stock valued at $1,055,000 after buying an additional 1,817 shares during the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

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.