StockNews.com Initiates Coverage on Evans Bancorp (NYSE:EVBN)

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

Evans Bancorp Price Performance

Shares of EVBN opened at $39.03 on Friday. The stock has a market capitalization of $216.27 million, a price-to-earnings ratio of 18.15 and a beta of 0.97. The stock has a 50 day moving average price of $42.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $46.21.

Evans Bancorp Announces Dividend

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

Institutional Trading of Evans Bancorp

A number of institutional investors have recently made changes to their positions in EVBN. Wells Fargo & Company MN boosted its stake in shares of 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 purchasing an additional 682 shares during the period. Legal & General Group Plc purchased a new stake in shares of Evans Bancorp during the fourth quarter valued at approximately $95,000. XTX Topco Ltd purchased a new stake in shares of Evans Bancorp during the fourth quarter valued at approximately $249,000. Ritholtz Wealth Management boosted 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 purchasing an additional 1,417 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Evans Bancorp during the fourth quarter valued at approximately $349,000. Hedge funds and other 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.