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 Sunday. The firm set a “hold” rating on the stock.

Evans Bancorp Stock Down 1.9 %

Shares of EVBN stock opened at $39.39 on Friday. Evans Bancorp has a 12-month low of $24.07 and a 12-month high of $46.21. The firm has a market cap of $218.26 million, a PE ratio of 18.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99.

Institutional Trading of Evans Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in Evans Bancorp by 68,200.0% during the fourth quarter. Wells Fargo & Company MN now owns 683 shares of the company’s stock valued at $30,000 after purchasing an additional 682 shares during the period. Legal & General Group Plc acquired a new stake in Evans Bancorp in the 4th quarter valued at $95,000. XTX Topco Ltd purchased a new stake in shares of Evans Bancorp during the fourth quarter worth about $249,000. Ritholtz Wealth Management increased its stake in Evans Bancorp by 25.3% during the 4th quarter. Ritholtz Wealth Management now owns 7,022 shares of the company’s stock worth $304,000 after buying an additional 1,417 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Evans Bancorp in the 4th quarter valued at $349,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.