Evans Bancorp Inc (NYSE:EVBN) Stock Position Lowered by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ decreased its position in Evans Bancorp Inc (NYSE:EVBN) by 1.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 27,000 shares of the company’s stock after selling 499 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.49% of Evans Bancorp worth $1,173,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EVBN. Ritholtz Wealth Management lifted its holdings in shares of Evans Bancorp by 25.3% in the fourth quarter. Ritholtz Wealth Management now owns 7,022 shares of the company’s stock valued at $304,000 after purchasing an additional 1,417 shares in the last quarter. ABC Arbitrage SA purchased a new stake in Evans Bancorp in the 4th quarter worth about $2,417,000. Bank of New York Mellon Corp acquired a new stake in Evans Bancorp during the 4th quarter worth about $657,000. Finally, PL Capital Advisors LLC grew its stake in Evans Bancorp by 4,230.0% during 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 acquiring an additional 25,877,406 shares in the last quarter. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Evans Bancorp Stock Up 1.0 %

Shares of NYSE:EVBN opened at $39.41 on Tuesday. The firm’s fifty day moving average is $42.62. 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 Inc has a 12-month low of $24.07 and a 12-month high of $46.21. The firm has a market cap of $219.40 million, a price-to-earnings ratio of 18.33 and a beta of 0.97.

Evans Bancorp Announces Dividend

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

Insiders Place Their Bets

In related news, CEO David J. Nasca sold 1,434 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $38.81, for a total transaction of $55,653.54. Following the transaction, the chief executive officer now owns 104,431 shares of the company’s stock, valued at approximately $4,052,967.11. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.34% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Evans Bancorp in a report on Monday. They set a “hold” rating for the company.

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.