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

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

Evans Bancorp Price Performance

Shares of EVBN opened at $43.41 on Friday. The stock has a market cap of $240.53 million, a PE ratio of 20.19 and a beta of 0.92. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $46.21. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99.

Evans Bancorp Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be paid a dividend of $0.66 per share. The ex-dividend date is Thursday, March 13th. This represents a dividend yield of 3.1%. Evans Bancorp’s payout ratio is 61.40%.

Institutional Trading of Evans Bancorp

A number of large investors have recently made changes to their positions in EVBN. Ritholtz Wealth Management increased its stake 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 during the period. ABC Arbitrage SA purchased a new position in Evans Bancorp in the fourth quarter valued at approximately $2,417,000. Bank of New York Mellon Corp purchased a new position in Evans Bancorp in the fourth quarter valued at approximately $657,000. PL Capital Advisors LLC increased its stake 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 purchasing an additional 25,877,406 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in Evans Bancorp by 15.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 29,542 shares of the company’s stock valued at $1,279,000 after purchasing an additional 3,921 shares during the last quarter. 67.10% of the stock is currently 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.