Chicago Capital Management LLC Makes New Investment in Evans Bancorp Inc (NYSE:EVBN)

Chicago Capital Management LLC bought a new position in Evans Bancorp Inc (NYSE:EVBN) in the fourth quarter, HoldingsChannel.com reports. The fund bought 195,739 shares of the company’s stock, valued at approximately $8,475,000. Evans Bancorp comprises about 5.2% of Chicago Capital Management LLC’s portfolio, making the stock its 3rd largest position.

Other large investors also recently modified their holdings of the company. Ritholtz Wealth Management lifted its stake in shares of Evans Bancorp by 25.3% during the fourth quarter. Ritholtz Wealth Management now owns 7,022 shares of the company’s stock valued at $304,000 after acquiring an additional 1,417 shares during the period. ABC Arbitrage SA bought a new stake in Evans Bancorp during the 4th quarter worth about $2,417,000. Bank of New York Mellon Corp acquired a new position in Evans Bancorp during the 4th quarter valued at about $657,000. PL Capital Advisors LLC boosted its stake in shares of Evans Bancorp by 4,230.0% in the 4th quarter. PL Capital Advisors LLC now owns 26,489,165 shares of the company’s stock valued at $1,146,981,000 after purchasing an additional 25,877,406 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of Evans Bancorp by 15.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 29,542 shares of the company’s stock worth $1,279,000 after buying an additional 3,921 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Evans Bancorp news, CEO David J. Nasca sold 1,434 shares of Evans Bancorp 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 of the company’s stock, 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 filing with the SEC, which is available through the SEC website. 6.34% of the stock is owned by company insiders.

Evans Bancorp Stock Up 0.0 %

EVBN stock opened at $39.69 on Wednesday. Evans Bancorp Inc has a twelve month low of $24.07 and a twelve month high of $46.21. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $220.95 million, a P/E ratio of 18.46 and a beta of 0.97. The company has a fifty day moving average of $42.25.

Evans Bancorp Dividend Announcement

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

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Evans Bancorp in a report on Tuesday. They issued a “hold” rating on the stock.

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.