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

Research analysts at StockNews.com assumed coverage on shares of Evans Bancorp (NYSE:EVBN) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the stock.

Evans Bancorp Price Performance

Evans Bancorp stock opened at $39.68 on Tuesday. The firm has a market capitalization of $220.90 million, a PE ratio of 18.46 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99. The company has a fifty day simple moving average of $42.25. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $46.21.

Insider Activity at Evans Bancorp

In related news, CEO David J. Nasca sold 1,434 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were 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 directly owns 104,431 shares of the company’s stock, valued at $4,052,967.11. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Evans Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. PL Capital Advisors LLC boosted its position in shares of Evans Bancorp by 4,230.0% in the 4th quarter. PL Capital Advisors LLC now owns 26,489,165 shares of the company’s stock valued at $1,146,981,000 after purchasing an additional 25,877,406 shares during the period. Chicago Capital Management LLC purchased a new stake in Evans Bancorp in the fourth quarter valued at approximately $8,475,000. Credit Industriel ET Commercial purchased a new stake in Evans Bancorp in the fourth quarter valued at approximately $5,257,000. Susquehanna International Group LLP boosted its holdings in shares of Evans Bancorp by 267.3% in the fourth quarter. Susquehanna International Group LLP now owns 113,973 shares of the company’s stock valued at $4,935,000 after acquiring an additional 82,947 shares during the period. Finally, ABC Arbitrage SA purchased a new position in shares of Evans Bancorp during the fourth quarter worth approximately $2,417,000. Institutional investors and hedge funds 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.