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

Equities researchers at StockNews.com began coverage on shares of Evans Bancorp (NYSE:EVBN) in a report issued on Sunday. The brokerage set a “hold” rating on the stock.

Evans Bancorp Stock Up 2.4 %

Shares of NYSE EVBN opened at $39.53 on Friday. The company has a market cap of $220.06 million, a price-to-earnings ratio of 18.39 and a beta of 0.71. The business has a 50-day simple moving average of $38.46. 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 has a twelve month low of $24.80 and a twelve month high of $46.21.

Insider Buying and Selling

In other 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 value of $55,653.54. Following the transaction, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Evans Bancorp

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

Evans Bancorp Company 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.