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

Equities researchers at StockNews.com initiated coverage on shares of Evans Bancorp (NYSE:EVBN) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the stock.

Evans Bancorp Trading Down 2.2 %

Shares of EVBN opened at $43.55 on Thursday. 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 12 month low of $24.07 and a 12 month high of $46.21. The firm has a market cap of $241.27 million, a price-to-earnings ratio of 20.26 and a beta of 0.92.

Institutional Trading of Evans Bancorp

Several institutional investors have recently added to or reduced their stakes in EVBN. Ritholtz Wealth Management boosted its stake in shares of Evans Bancorp by 25.3% in the 4th quarter. Ritholtz Wealth Management now owns 7,022 shares of the company’s stock worth $304,000 after buying an additional 1,417 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Evans Bancorp by 8.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 24,362 shares of the company’s stock worth $1,055,000 after buying an additional 1,817 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Evans Bancorp by 15.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 29,542 shares of the company’s stock worth $1,279,000 after buying an additional 3,921 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Evans Bancorp by 44.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,402 shares of the company’s stock worth $580,000 after buying an additional 4,133 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Evans Bancorp in the 4th quarter worth $657,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

About Evans Bancorp

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.