Evans Bancorp (NYSE:EVBN) Earns Hold Rating from Analysts at StockNews.com

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

Evans Bancorp Price Performance

Shares of NYSE EVBN traded up $0.77 on Thursday, hitting $36.12. The company's stock had a trading volume of 639 shares, compared to its average volume of 23,943. The company has a 50 day simple moving average of $40.14. The stock has a market cap of $201.08 million, a P/E ratio of 16.80 and a beta of 0.74. Evans Bancorp has a 12-month low of $24.07 and a 12-month high of $46.21. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99.

Evans Bancorp Announces Dividend

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

Insider Activity

In related news, CEO David J. Nasca sold 1,434 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $38.81, for a total value 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 approximately $4,052,967.11. The trade was a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.34% of the company's stock.

Institutional Investors Weigh In On Evans Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in Evans Bancorp by 68,200.0% during the fourth quarter. Wells Fargo & Company MN now owns 683 shares of the company's stock worth $30,000 after acquiring an additional 682 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Evans Bancorp in the fourth quarter valued at $95,000. XTX Topco Ltd acquired a new position in Evans Bancorp in the fourth quarter valued at $249,000. Ritholtz Wealth Management lifted its position in Evans Bancorp by 25.3% during 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 during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Evans Bancorp in the 4th quarter worth about $349,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

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.