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

StockNews.com assumed coverage on shares of Evans Bancorp (NYSE:EVBN - Free Report) in a report published on Tuesday. The firm issued a hold rating on the stock.

Evans Bancorp Stock Down 2.0 %

EVBN traded down $0.81 during trading on Tuesday, hitting $38.75. The company's stock had a trading volume of 11,168 shares, compared to its average volume of 24,276. The company's 50 day moving average price is $41.96. 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 company has a market capitalization of $215.72 million, a PE ratio of 18.02 and a beta of 0.97. Evans Bancorp has a 12 month low of $24.07 and a 12 month high of $46.21.

Evans Bancorp Announces Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th will be given a $0.66 dividend. This represents a yield of 3.1%. The ex-dividend date is Thursday, March 13th. Evans Bancorp's payout ratio is presently 61.40%.

Insiders Place Their Bets

In other news, CEO David J. Nasca sold 1,434 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $38.81, for a total transaction of $55,653.54. Following the completion of the sale, the chief executive officer now owns 104,431 shares in the company, valued at $4,052,967.11. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.34% of the company's stock.

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Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. PL Capital Advisors LLC raised its stake in shares of Evans Bancorp by 4,230.0% during the fourth quarter. PL Capital Advisors LLC now owns 26,489,165 shares of the company's stock worth $1,146,981,000 after buying an additional 25,877,406 shares during the last quarter. Chicago Capital Management LLC acquired a new stake in Evans Bancorp during the 4th quarter worth $8,475,000. Dimensional Fund Advisors LP raised its position in shares of Evans Bancorp by 11.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 173,234 shares of the company's stock valued at $7,501,000 after acquiring an additional 18,233 shares during the last quarter. Credit Industriel ET Commercial acquired a new position in shares of Evans Bancorp in the 4th quarter valued at $5,257,000. Finally, Susquehanna International Group LLP boosted its position in shares of Evans Bancorp by 267.3% in the 4th quarter. Susquehanna International Group LLP now owns 113,973 shares of the company's stock worth $4,935,000 after purchasing an additional 82,947 shares during the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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.