StockNews.com Begins Coverage on Evans Bancorp (NYSE:EVBN)

Equities researchers at StockNews.com initiated coverage on shares of Evans Bancorp (NYSE:EVBN) in a note issued to investors on Tuesday. The firm set a “hold” rating on the stock.

Evans Bancorp Price Performance

Shares of EVBN stock opened at $39.53 on Tuesday. The firm has a 50-day moving average price of $38.09. The stock has a market capitalization of $220.06 million, a P/E ratio of 18.39 and a beta of 0.71. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99. Evans Bancorp has a one year low of $24.80 and a one year high of $46.21.

Insiders Place Their Bets

In other 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.34% of the company’s stock.

Institutional Investors Weigh In On Evans Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its position in 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 buying an additional 682 shares during the last quarter. Deutsche Bank AG purchased a new stake in Evans Bancorp in the first quarter valued at approximately $34,000. Legal & General Group Plc acquired a new position in Evans Bancorp in the fourth quarter valued at approximately $95,000. XTX Topco Ltd acquired a new position in shares of Evans Bancorp during the 4th quarter worth approximately $249,000. Finally, Ritholtz Wealth Management raised its stake 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. 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.