Evans Bancorp (NYSE:EVBN) Coverage Initiated at StockNews.com

Research analysts at StockNews.com started coverage on shares of Evans Bancorp (NYSE:EVBN) in a research report issued on Monday. The firm set a “hold” rating on the stock.

Evans Bancorp Stock Performance

Shares of EVBN stock opened at $39.28 on Monday. 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 has a fifty-two week low of $24.07 and a fifty-two week high of $46.21. The company has a market cap of $218.67 million, a price-to-earnings ratio of 18.27 and a beta of 0.97. The stock has a 50 day simple moving average of $42.48.

Insider Activity

In other news, CEO David J. Nasca sold 1,434 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $38.81, for a total value of $55,653.54. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its stake in shares of Evans Bancorp by 68,200.0% in the fourth quarter. Wells Fargo & Company MN now owns 683 shares of the company’s stock worth $30,000 after acquiring an additional 682 shares during the last quarter. Legal & General Group Plc bought a new position in Evans Bancorp in the 4th quarter worth about $95,000. XTX Topco Ltd bought a new position in Evans Bancorp in the 4th quarter worth about $249,000. Ritholtz Wealth Management grew its position in Evans Bancorp by 25.3% during the 4th 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 last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Evans Bancorp during the 4th quarter valued at about $349,000. 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.