LPL Financial LLC Cuts Stake in Evans Bancorp Inc (NYSE:EVBN)

LPL Financial LLC lessened its holdings in Evans Bancorp Inc (NYSE:EVBN) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,131 shares of the company’s stock after selling 595 shares during the quarter. LPL Financial LLC owned 0.24% of Evans Bancorp worth $569,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in EVBN. PL Capital Advisors LLC grew its stake in shares of Evans Bancorp by 4,230.0% during the fourth quarter. PL Capital Advisors LLC now owns 26,489,165 shares of the company’s stock valued at $1,146,981,000 after buying an additional 25,877,406 shares during the last quarter. American Century Companies Inc. grew its position in Evans Bancorp by 89.7% during the 4th quarter. American Century Companies Inc. now owns 69,408 shares of the company’s stock worth $3,005,000 after acquiring an additional 32,822 shares during the last quarter. ABC Arbitrage SA purchased a new position in Evans Bancorp in the 4th quarter worth approximately $2,417,000. Commonwealth Equity Services LLC lifted its position in Evans Bancorp by 15.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 29,542 shares of the company’s stock valued at $1,279,000 after purchasing an additional 3,921 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Evans Bancorp during the fourth quarter valued at approximately $657,000. 67.10% of the stock is owned by institutional investors.

Evans Bancorp Trading Up 1.0 %

Evans Bancorp stock opened at $38.55 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $214.58 million, a price-to-earnings ratio of 17.93 and a beta of 0.74. Evans Bancorp Inc has a 1-year low of $24.07 and a 1-year high of $46.21. The business’s 50-day moving average price is $39.08.

Evans Bancorp Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, April 10th. Shareholders 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 (DPR) is currently 61.40%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Evans Bancorp in a report on Friday, April 18th. They set a “hold” rating for the company.

Insider Transactions at Evans Bancorp

In other news, CEO David J. Nasca sold 1,434 shares of Evans Bancorp stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $38.81, for a total transaction 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. The trade was a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.11% of the company’s stock.

Evans Bancorp 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.