Evans Bancorp (NYSEAMERICAN:EVBN) Stock Price Crosses Below Fifty Day Moving Average - Should You Sell?

Shares of Evans Bancorp, Inc. (NYSEAMERICAN:EVBN - Get Free Report) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $42.71 and traded as low as $39.21. Evans Bancorp shares last traded at $39.56, with a volume of 23,182 shares trading hands.

Wall Street Analyst Weigh In

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

Evans Bancorp Trading Down 0.8 %

The company has a 50 day simple moving average of $42.37. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $214.23 million, a P/E ratio of 11.61 and a beta of 0.92.

Institutional Investors Weigh In On Evans Bancorp

Several hedge funds have recently modified their holdings of the stock. Oddo BHF Asset Management Sas purchased a new position in shares of Evans Bancorp in the 3rd quarter worth $5,599,000. JPMorgan Chase & Co. increased its stake in Evans Bancorp by 18.9% during the third quarter. JPMorgan Chase & Co. now owns 9,503 shares of the bank's stock worth $370,000 after acquiring an additional 1,511 shares during the last quarter. Barclays PLC raised its holdings in shares of Evans Bancorp by 47.7% in the 3rd quarter. Barclays PLC now owns 16,163 shares of the bank's stock worth $630,000 after purchasing an additional 5,218 shares during the period. Stifel Financial Corp acquired a new position in shares of Evans Bancorp in the 3rd quarter valued at about $556,000. Finally, Geode Capital Management LLC grew its holdings in shares of Evans Bancorp by 6.9% during the 3rd 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. 67.10% of the stock is owned by institutional investors and hedge funds.

Evans Bancorp Company Profile

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.