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

StockNews.com initiated coverage on shares of Evans Bancorp (NYSE:EVBN) in a research report report published on Wednesday morning. The brokerage issued a hold rating on the stock.

Evans Bancorp Price Performance

Shares of EVBN stock opened at $44.20 on Wednesday. The stock has a market cap of $244.87 million, a PE ratio of 13.27 and a beta of 0.92. 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.

Hedge Funds Weigh In On Evans Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ritholtz Wealth Management raised its holdings in Evans Bancorp by 25.3% during the 4th quarter. Ritholtz Wealth Management now owns 7,022 shares of the company’s stock worth $304,000 after purchasing an additional 1,417 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Evans Bancorp during the fourth quarter worth $657,000. PL Capital Advisors LLC lifted its holdings in Evans Bancorp by 4,230.0% in the fourth quarter. PL Capital Advisors LLC now owns 26,489,165 shares of the company’s stock valued at $1,146,981,000 after buying an additional 25,877,406 shares during the period. Finally, ABC Arbitrage SA bought a new stake in Evans Bancorp during the fourth quarter valued at $2,417,000. 67.10% of the stock is 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.