Evans Bancorp (NYSE:EVBN) Now Covered by StockNews.com

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

Evans Bancorp Stock Performance

Shares of NYSE:EVBN opened at $42.54 on Friday. Evans Bancorp has a 12-month low of $24.07 and a 12-month high of $46.21. The company has a market cap of $235.67 million, a price-to-earnings ratio of 19.79 and a beta of 0.92. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86.

Evans Bancorp Announces Dividend

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

Institutional Trading of Evans Bancorp

Several large investors have recently modified their holdings of the stock. PL Capital Advisors LLC lifted its position in Evans Bancorp by 4,230.0% during the fourth quarter. PL Capital Advisors LLC now owns 26,489,165 shares of the company’s stock worth $1,146,981,000 after purchasing an additional 25,877,406 shares during the period. Chicago Capital Management LLC bought a new stake in shares of Evans Bancorp during the 4th quarter worth approximately $8,475,000. Dimensional Fund Advisors LP boosted its position in shares of Evans Bancorp by 11.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 173,234 shares of the company’s stock worth $7,501,000 after acquiring an additional 18,233 shares in the last quarter. Credit Industriel ET Commercial bought a new position in Evans Bancorp in the fourth quarter valued at approximately $5,257,000. Finally, Susquehanna International Group LLP raised its position in Evans Bancorp by 267.3% during the fourth quarter. Susquehanna International Group LLP now owns 113,973 shares of the company’s stock valued at $4,935,000 after purchasing an additional 82,947 shares in the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

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.