Evans Bancorp (NYSE:EVBN) Coverage Initiated at StockNews.com

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

Evans Bancorp Stock Performance

Shares of EVBN opened at $43.41 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 company has a market cap of $240.53 million, a PE ratio of 20.19 and a beta of 0.92. Evans Bancorp has a 12-month low of $24.07 and a 12-month high of $46.21.

Evans Bancorp Announces Dividend

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

Institutional Investors Weigh In On Evans Bancorp

Several hedge funds have recently modified their holdings of EVBN. Jefferies Financial Group Inc. purchased a new stake in shares of Evans Bancorp during the 4th quarter worth $364,000. Credit Industriel ET Commercial purchased a new stake in shares of Evans Bancorp in the 4th quarter worth about $5,257,000. CSS LLC IL boosted its position in shares of Evans Bancorp by 148.4% in the 4th quarter. CSS LLC IL now owns 55,306 shares of the company’s stock worth $2,395,000 after buying an additional 33,039 shares in the last quarter. Note Advisors LLC purchased a new stake in shares of Evans Bancorp in the 4th quarter worth about $545,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Evans Bancorp in the 4th quarter worth about $496,000. 67.10% of the stock is 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.