Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Sees Large Increase in Short Interest

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN - Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 19,200 shares, a growth of 51.2% from the February 28th total of 12,700 shares. Based on an average trading volume of 25,300 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.4% of the company's shares are sold short.

Hedge Funds Weigh In On Evans Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVBN. JPMorgan Chase & Co. increased its stake in shares of Evans Bancorp by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,503 shares of the bank's stock valued at $370,000 after acquiring an additional 1,511 shares during the last quarter. Stifel Financial Corp acquired a new position in Evans Bancorp during the third quarter valued at approximately $556,000. Barclays PLC increased its stake in Evans Bancorp by 47.7% in the third quarter. Barclays PLC now owns 16,163 shares of the bank's stock valued at $630,000 after purchasing an additional 5,218 shares in the last quarter. Geode Capital Management LLC raised its holdings in Evans Bancorp by 6.9% in the third quarter. Geode Capital Management LLC now owns 55,786 shares of the bank's stock worth $2,175,000 after purchasing an additional 3,583 shares during the period. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Evans Bancorp during the third quarter worth $5,599,000. Institutional investors own 67.10% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Evans Bancorp in a research report on Wednesday, January 8th. They set a "hold" rating for the company.

Evans Bancorp Trading Down 7.8 %

Shares of NYSEAMERICAN:EVBN traded down $3.03 during midday trading on Thursday, hitting $35.82. The company had a trading volume of 37,252 shares, compared to its average volume of 30,801. 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 business has a fifty day moving average of $42.08. The company has a market cap of $198.44 million, a PE ratio of 10.76 and a beta of 0.92.

About Evans Bancorp

Evans Bancorp, Inc primarily operates as financial holding company for Evans Bank, N.A. that provides a range of banking products and services to consumer and commercial customers in the United States. The company offers deposit products, which include checking and negotiable order of withdrawal accounts, savings accounts, and certificates of deposit.