StockNews.com Initiates Coverage on Evans Bancorp (NYSE:EVBN)

Investment analysts at StockNews.com started coverage on shares of Evans Bancorp (NYSE:EVBN) in a research note issued on Tuesday. The firm set a “hold” rating on the stock.

Evans Bancorp Stock Performance

NYSE:EVBN opened at $42.87 on Tuesday. Evans Bancorp has a fifty-two week low of $24.07 and a fifty-two week high of $46.21. The stock has a market capitalization of $237.54 million, a PE ratio of 12.87 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.

Hedge Funds Weigh In On Evans Bancorp

A hedge fund recently raised its stake in Evans Bancorp stock. Ritholtz Wealth Management grew its position in shares of Evans Bancorp Inc (NYSE:EVBN) by 25.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,022 shares of the company’s stock after purchasing an additional 1,417 shares during the quarter. Ritholtz Wealth Management owned approximately 0.13% of Evans Bancorp worth $304,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 67.10% of the company’s stock.

About Evans Bancorp

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.