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

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

Evans Bancorp Stock Up 0.5 %

Shares of EVBN opened at $38.85 on Wednesday. The firm’s 50-day moving average price is $41.68. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. Evans Bancorp has a 12-month low of $24.07 and a 12-month high of $46.21. The company has a market capitalization of $216.28 million, a price-to-earnings ratio of 18.07 and a beta of 0.74.

Evans Bancorp Announces Dividend

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

Insider Buying and Selling at Evans Bancorp

In other Evans Bancorp news, CEO David J. Nasca sold 1,434 shares of Evans Bancorp stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $38.81, for a total transaction of $55,653.54. Following the sale, the chief executive officer now directly owns 104,431 shares of the company’s stock, valued at approximately $4,052,967.11. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.11% of the company’s stock.

Hedge Funds Weigh In On Evans Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PL Capital Advisors LLC raised its stake 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 acquiring an additional 25,877,406 shares in the last quarter. Chicago Capital Management LLC bought a new stake in shares of Evans Bancorp in the 4th quarter worth about $8,475,000. Credit Industriel ET Commercial acquired a new stake in shares of Evans Bancorp during the 4th quarter worth about $5,257,000. Susquehanna International Group LLP lifted its holdings in Evans Bancorp by 267.3% during the 4th 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 during the last quarter. Finally, ABC Arbitrage SA acquired a new position in Evans Bancorp in the fourth quarter valued at about $2,417,000. 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.