Alliancebernstein L.P. Sells 66,856 Shares of Evans Bancorp Inc (NYSE:EVBN)

Alliancebernstein L.P. lowered its holdings in Evans Bancorp Inc (NYSE:EVBN) by 28.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 166,829 shares of the company’s stock after selling 66,856 shares during the quarter. Alliancebernstein L.P. owned approximately 3.01% of Evans Bancorp worth $7,224,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. O Shaughnessy Asset Management LLC raised its stake in Evans Bancorp by 44.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,402 shares of the company’s stock worth $580,000 after buying an additional 4,133 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Evans Bancorp by 8.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 24,362 shares of the company’s stock valued at $1,055,000 after acquiring an additional 1,817 shares during the period. Chicago Capital Management LLC bought a new position in shares of Evans Bancorp in the 4th quarter worth $8,475,000. American Century Companies Inc. lifted its stake in shares of Evans Bancorp by 89.7% during the 4th quarter. American Century Companies Inc. now owns 69,408 shares of the company’s stock worth $3,005,000 after purchasing an additional 32,822 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Evans Bancorp by 15.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 29,542 shares of the company’s stock worth $1,279,000 after purchasing an additional 3,921 shares during the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Insider Transactions at Evans Bancorp

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

Evans Bancorp Trading Down 0.4 %

Shares of EVBN opened at $34.91 on Friday. 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 $194.34 million, a price-to-earnings ratio of 16.24 and a beta of 0.74. Evans Bancorp Inc has a 12 month low of $24.07 and a 12 month high of $46.21. The firm’s fifty day simple moving average is $40.48.

Evans Bancorp Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th were issued a $0.66 dividend. This represents a yield of 3.1%. The ex-dividend date of this dividend was Thursday, March 13th. Evans Bancorp’s dividend payout ratio is presently 61.40%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Evans Bancorp in a research note on Thursday. 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.