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

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

Evans Bancorp Stock Performance

Shares of NYSE EVBN opened at $43.41 on Friday. 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 stock has a market capitalization of $240.53 million, a PE ratio of 20.19 and a beta of 0.92. Evans Bancorp has a fifty-two week low of $24.07 and a fifty-two week high of $46.21.

Institutional Investors Weigh In On Evans Bancorp

Several large investors have recently made changes to their positions in EVBN. Ritholtz Wealth Management raised 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 worth $304,000 after acquiring an additional 1,417 shares in the last quarter. ABC Arbitrage SA acquired a new position in shares of Evans Bancorp during the 4th quarter worth about $2,417,000. Bank of New York Mellon Corp bought a new stake in shares of Evans Bancorp in the 4th quarter valued at about $657,000. PL Capital Advisors LLC lifted its stake in 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 last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Evans Bancorp by 15.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 29,542 shares of the company’s stock worth $1,279,000 after purchasing an additional 3,921 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.