Evans Bancorp (NYSE:EVBN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Evans Bancorp (NYSE:EVBN) in a research note issued to investors on Tuesday. The firm issued a hold rating on the stock.

Evans Bancorp Stock Performance

EVBN opened at $39.56 on Tuesday. The company has a market cap of $220.23 million, a price-to-earnings ratio of 18.40 and a beta of 0.97. Evans Bancorp has a twelve month low of $24.07 and a twelve month 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 stock has a 50-day moving average price of $42.05.

Evans Bancorp Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO David J. Nasca sold 1,434 shares of the company’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 sale, the chief executive officer now owns 104,431 shares in the company, valued at approximately $4,052,967.11. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 6.34% of the company’s stock.

Institutional Trading of Evans Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. bought a new position in Evans Bancorp during the 4th quarter worth about $364,000. Credit Industriel ET Commercial acquired a new stake in Evans Bancorp in the 4th quarter valued at approximately $5,257,000. CSS LLC IL lifted its stake in Evans Bancorp by 148.4% in the 4th quarter. CSS LLC IL now owns 55,306 shares of the company’s stock valued at $2,395,000 after acquiring an additional 33,039 shares in the last quarter. Note Advisors LLC acquired a new position in Evans Bancorp during the 4th quarter worth approximately $545,000. Finally, Squarepoint Ops LLC bought a new position in shares of Evans Bancorp during the 4th quarter worth approximately $496,000. Institutional investors and hedge funds own 67.10% of the company’s 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.