Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Short Interest Up 51.2% in March

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) saw a significant increase in short interest in 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 shares of the company are sold short. Based on an average daily trading volume, of 25,300 shares, the short-interest ratio is presently 0.8 days.

Hedge Funds Weigh In On Evans Bancorp

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 1,511 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Evans Bancorp during the third quarter worth about $556,000. Barclays PLC boosted its position in shares of Evans Bancorp by 47.7% in the third quarter. Barclays PLC now owns 16,163 shares of the bank’s stock worth $630,000 after buying an additional 5,218 shares during the period. Geode Capital Management LLC boosted its position in shares of Evans Bancorp by 6.9% in the third quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock worth $2,175,000 after buying an additional 3,583 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Evans Bancorp in the third quarter valued at about $5,599,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Evans Bancorp Price Performance

EVBN traded down $0.81 during midday trading on Friday, reaching $38.75. 11,168 shares of the company’s stock were exchanged, compared to its average volume of 30,682. The company’s 50-day moving average price is $42.60. The firm has a market cap of $214.68 million, a PE ratio of 11.64 and a beta of 0.92. Evans Bancorp has a 1-year low of $24.07 and a 1-year high of $46.21. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Evans Bancorp in a research report on Wednesday, January 8th. They issued a “hold” rating on the stock.

About Evans Bancorp

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.