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

StockNews.com began coverage on shares of Evans Bancorp (NYSE:EVBN) in a report issued on Friday morning. The brokerage issued a hold rating on the stock.

Evans Bancorp Stock Performance

Shares of EVBN opened at $36.10 on Friday. The stock has a market cap of $200.97 million, a price-to-earnings ratio of 16.79 and a beta of 0.74. Evans Bancorp has a fifty-two week low of $24.07 and a fifty-two week high of $46.21. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average price of $39.64.

Evans Bancorp Announces Dividend

The firm also recently declared 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. This represents a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, March 13th. Evans Bancorp’s payout ratio is currently 61.40%.

Insider Activity at Evans Bancorp

In other Evans Bancorp news, CEO David J. Nasca sold 1,434 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $38.81, for a total value of $55,653.54. Following the completion of the transaction, the chief executive officer now owns 104,431 shares in the company, valued at $4,052,967.11. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Evans Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jefferies Financial Group Inc. bought a new stake in Evans Bancorp during the 4th quarter worth approximately $364,000. Credit Industriel ET Commercial bought a new position in shares of Evans Bancorp in the fourth quarter worth $5,257,000. CSS LLC IL raised its position in shares of Evans Bancorp by 148.4% in the fourth quarter. CSS LLC IL now owns 55,306 shares of the company’s stock worth $2,395,000 after buying an additional 33,039 shares in the last quarter. Note Advisors LLC bought a new stake in Evans Bancorp during the fourth quarter valued at $545,000. Finally, Squarepoint Ops LLC purchased a new position in Evans Bancorp during the fourth quarter worth about $496,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

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.