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

StockNews.com started coverage on shares of Evans Bancorp (NYSE:EVBN) in a report issued on Saturday. The brokerage set a “hold” rating on the stock.

Evans Bancorp Stock Performance

Evans Bancorp stock opened at $38.70 on Friday. The company has a 50 day moving average of $38.87. 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 1 year low of $24.07 and a 1 year high of $46.21. The stock has a market cap of $215.44 million, a P/E ratio of 18.00 and a beta of 0.74.

Insider Buying and Selling at Evans Bancorp

In related news, CEO David J. Nasca sold 1,434 shares of the business’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 in the company, valued at approximately $4,052,967.11. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Evans Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN increased 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 buying an additional 682 shares during the period. Legal & General Group Plc purchased a new position in shares of Evans Bancorp during the fourth quarter worth approximately $95,000. XTX Topco Ltd acquired a new position in shares of Evans Bancorp in the 4th quarter valued at $249,000. Ritholtz Wealth Management raised its position in 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 last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Evans Bancorp during the 4th quarter worth $349,000. 67.10% of the stock is 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.