Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Sees Large Increase in Short Interest

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 19,200 shares, an increase of 51.2% from the February 28th total of 12,700 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 25,300 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Evans Bancorp in a report on Wednesday, January 8th. They set a “hold” rating for the company.

Evans Bancorp Stock Down 2.0 %

NYSEAMERICAN:EVBN traded down $0.81 during trading hours on Friday, reaching $38.75. 11,168 shares of the stock were exchanged, compared to its average volume of 30,682. The firm has a market cap of $214.68 million, a PE ratio of 11.64 and a beta of 0.92. The company’s 50 day moving average is $42.60. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86. Evans Bancorp has a 52 week low of $24.07 and a 52 week high of $46.21.

Hedge Funds Weigh In On Evans Bancorp

Several large investors have recently added to or reduced their stakes in EVBN. Oddo BHF Asset Management Sas bought a new position in Evans Bancorp in the third quarter worth about $5,599,000. Stifel Financial Corp acquired a new stake in shares of Evans Bancorp during the 3rd quarter worth approximately $556,000. Barclays PLC lifted 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 last quarter. Geode Capital Management LLC boosted its position in Evans Bancorp by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock valued at $2,175,000 after purchasing an additional 3,583 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Evans Bancorp by 18.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,503 shares of the bank’s stock valued at $370,000 after purchasing an additional 1,511 shares during the period. 67.10% of the stock is currently owned by institutional investors.

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.