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

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

Evans Bancorp Stock Down 1.5 %

EVBN opened at $43.16 on Friday. Evans Bancorp has a one year low of $24.07 and a one year high of $46.21. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $239.11 million, a price-to-earnings ratio of 20.07 and a beta of 0.92.

Hedge Funds Weigh In On Evans Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in 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 in the last quarter. Legal & General Group Plc purchased a new position in Evans Bancorp during the fourth quarter valued at $95,000. XTX Topco Ltd purchased a new position in Evans Bancorp during the fourth quarter valued at $249,000. Ritholtz Wealth Management lifted its position in 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 in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Evans Bancorp during the fourth quarter valued at $349,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

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.