StockNews.com Begins Coverage on Evans Bancorp (NYSE:EVBN)

StockNews.com began coverage on shares of Evans Bancorp (NYSE:EVBN) in a research report released on Monday morning. The firm issued a hold rating on the stock.

Evans Bancorp Stock Up 1.0 %

Shares of Evans Bancorp stock opened at $43.25 on Monday. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $46.21. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $239.65 million, a PE ratio of 12.99 and a beta of 0.92.

Hedge Funds Weigh In On Evans Bancorp

A hedge fund recently raised its stake in Evans Bancorp stock. Ritholtz Wealth Management raised its stake in Evans Bancorp Inc (NYSE:EVBN) by 25.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,022 shares of the company’s stock after acquiring an additional 1,417 shares during the period. Ritholtz Wealth Management owned approximately 0.13% of Evans Bancorp worth $304,000 as of its most recent SEC filing. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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.