Legal & General Group Plc Makes New $95,000 Investment in Evans Bancorp Inc (NYSE:EVBN)

Legal & General Group Plc bought a new stake in Evans Bancorp Inc (NYSE:EVBN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,198 shares of the company’s stock, valued at approximately $95,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in Evans Bancorp during the 4th quarter valued at $657,000. American Century Companies Inc. increased its holdings in shares of Evans Bancorp by 89.7% during the fourth quarter. American Century Companies Inc. now owns 69,408 shares of the company’s stock valued at $3,005,000 after purchasing an additional 32,822 shares during the period. Arrowstreet Capital Limited Partnership raised its stake 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 purchasing an additional 1,817 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Evans Bancorp by 15.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 29,542 shares of the company’s stock worth $1,279,000 after purchasing an additional 3,921 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in Evans Bancorp by 44.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,402 shares of the company’s stock valued at $580,000 after buying an additional 4,133 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Evans Bancorp in a research note on Saturday, April 26th. They issued a “hold” rating for the company.

Evans Bancorp Stock Performance

Shares of NYSE EVBN opened at $38.60 on Friday. Evans Bancorp Inc has a 1 year low of $24.27 and a 1 year high of $46.21. The company has a market cap of $214.89 million, a price-to-earnings ratio of 17.95 and a beta of 0.74. The firm’s fifty day moving average price is $38.53. 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 Announces Dividend

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

Insider Buying and Selling

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 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 in the company, valued at approximately $4,052,967.11. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.34% of the stock is owned by corporate insiders.

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.