Evans Bancorp (NYSE:EVBN) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Evans Bancorp (NYSE:EVBN) in a research report report published on Wednesday morning. The firm issued a hold rating on the stock.

Evans Bancorp Price Performance

Shares of EVBN stock opened at $35.10 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99. The business has a fifty day moving average price of $41.35. The firm has a market cap of $195.40 million, a price-to-earnings ratio of 16.33 and a beta of 0.74. Evans Bancorp has a 12 month low of $24.07 and a 12 month high of $46.21.

Evans Bancorp Announces Dividend

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

Insiders Place Their Bets

In other Evans Bancorp news, CEO David J. Nasca sold 1,434 shares of the firm’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 directly owns 104,431 shares of the company’s stock, valued at $4,052,967.11. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Evans Bancorp

Several large investors have recently modified their holdings of EVBN. Wells Fargo & Company MN raised its stake in Evans Bancorp by 68,200.0% during the fourth quarter. Wells Fargo & Company MN now owns 683 shares of the company’s stock valued at $30,000 after buying an additional 682 shares in the last quarter. Legal & General Group Plc acquired a new position in Evans Bancorp in the fourth quarter worth $95,000. XTX Topco Ltd bought a new stake in Evans Bancorp during the fourth quarter valued at $249,000. Ritholtz Wealth Management raised its holdings 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 worth $304,000 after purchasing an additional 1,417 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Evans Bancorp during the fourth quarter worth $349,000. 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.