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

StockNews.com assumed coverage on shares of Evans Bancorp (NYSE:EVBN) in a report released on Friday. The brokerage issued a hold rating on the stock.

Evans Bancorp Stock Performance

Shares of EVBN opened at $42.54 on Friday. Evans Bancorp has a 12-month low of $24.07 and a 12-month 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. The stock has a market cap of $235.67 million, a P/E ratio of 19.79 and a beta of 0.92.

Evans Bancorp Dividend Announcement

The company also recently declared 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 yield of 3.1%. Evans Bancorp’s dividend payout ratio is 61.40%.

Hedge Funds Weigh In On Evans Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVBN. Ritholtz Wealth Management increased its stake in Evans Bancorp by 25.3% during the fourth quarter. Ritholtz Wealth Management now owns 7,022 shares of the company’s stock valued at $304,000 after acquiring an additional 1,417 shares during the period. ABC Arbitrage SA bought a new position in Evans Bancorp during the fourth quarter valued at about $2,417,000. Bank of New York Mellon Corp bought a new stake in shares of Evans Bancorp in the 4th quarter valued at approximately $657,000. PL Capital Advisors LLC grew its stake in shares of Evans Bancorp by 4,230.0% in the 4th 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 period. Finally, Commonwealth Equity Services LLC grew its stake in shares of Evans Bancorp by 15.3% in the 4th 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 period. 67.10% of the stock is currently owned by institutional investors.

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.