Evans Bancorp (NYSE:EVBN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Evans Bancorp (NYSE:EVBN) in a research report sent to investors on Sunday morning. The brokerage issued a hold rating on the stock.

Evans Bancorp Price Performance

Shares of Evans Bancorp stock opened at $39.03 on Friday. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $46.21. The stock has a market cap of $216.27 million, a price-to-earnings ratio of 18.15 and a beta of 0.97. The company’s fifty day simple moving average is $42.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86.

Evans Bancorp Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.66 per share. This represents a dividend yield of 3.1%. The ex-dividend date is Thursday, March 13th. Evans Bancorp’s dividend payout ratio is presently 61.40%.

Institutional Investors Weigh In On Evans Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ritholtz Wealth Management grew its holdings in shares of Evans Bancorp by 25.3% during the fourth quarter. Ritholtz Wealth Management now owns 7,022 shares of the company’s stock worth $304,000 after purchasing an additional 1,417 shares in the last quarter. PL Capital Advisors LLC grew its holdings in shares of Evans Bancorp by 4,230.0% during the fourth quarter. PL Capital Advisors LLC now owns 26,489,165 shares of the company’s stock worth $1,146,981,000 after purchasing an additional 25,877,406 shares in the last quarter. ABC Arbitrage SA purchased a new stake in Evans Bancorp in the fourth quarter worth approximately $2,417,000. Legal & General Group Plc purchased a new stake in Evans Bancorp in the fourth quarter worth approximately $95,000. Finally, XTX Topco Ltd purchased a new stake in Evans Bancorp in the fourth quarter worth approximately $249,000. 67.10% of the stock is currently owned by institutional investors.

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.