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

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) was the recipient of a significant increase in short interest during 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 company’s shares are sold short. Based on an average daily trading volume, of 25,300 shares, the days-to-cover ratio is currently 0.8 days.

Hedge Funds Weigh In On Evans Bancorp

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Evans Bancorp by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,503 shares of the bank’s stock worth $370,000 after purchasing an additional 1,511 shares during the period. Oddo BHF Asset Management Sas purchased a new position in Evans Bancorp during the 3rd quarter worth $5,599,000. Barclays PLC increased its holdings in shares of Evans Bancorp by 47.7% during the third quarter. Barclays PLC now owns 16,163 shares of the bank’s stock valued at $630,000 after acquiring an additional 5,218 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Evans Bancorp by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock valued at $2,175,000 after purchasing an additional 3,583 shares during the last quarter. Finally, Stifel Financial Corp acquired a new stake in Evans Bancorp in the 3rd quarter worth approximately $556,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Evans Bancorp in a research note on Wednesday, January 8th. They set a “hold” rating for the company.

Evans Bancorp Stock Down 1.3 %

EVBN stock traded down $0.50 during trading on Tuesday, hitting $38.48. The company had a trading volume of 7,405 shares, compared to its average volume of 30,524. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $46.21. The firm has a 50 day moving average of $42.48. The stock has a market cap of $213.15 million, a price-to-earnings ratio of 11.55 and a beta of 0.92. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99.

Evans Bancorp Company Profile

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.