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

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

Evans Bancorp Trading Up 2.5 %

Shares of NYSE:EVBN opened at $39.68 on Tuesday. The business’s 50-day simple moving average is $42.25. Evans Bancorp has a 12-month low of $24.07 and a 12-month high of $46.21. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. The firm has a market cap of $220.90 million, a P/E ratio of 18.46 and a beta of 0.97.

Insider Buying and Selling

In related news, CEO David J. Nasca sold 1,434 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $38.81, for a total transaction of $55,653.54. Following the transaction, the chief executive officer now owns 104,431 shares of the company’s stock, valued at approximately $4,052,967.11. This represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Evans Bancorp

Several large investors have recently added to or reduced their stakes in EVBN. Wells Fargo & Company MN boosted its holdings in Evans Bancorp by 68,200.0% in 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 during the period. Legal & General Group Plc purchased a new position in shares of Evans Bancorp in the 4th quarter valued at about $95,000. XTX Topco Ltd purchased a new position in shares of Evans Bancorp in the 4th quarter valued at about $249,000. Ritholtz Wealth Management grew its position in shares of 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 buying an additional 1,417 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Evans Bancorp during the fourth quarter worth approximately $349,000. 67.10% of the stock is 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.