Evans Bancorp Inc (NYSE:EVBN) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC cut its holdings in shares of Evans Bancorp Inc (NYSE:EVBN) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,463 shares of the company’s stock after selling 700 shares during the period. HBK Sorce Advisory LLC owned about 0.26% of Evans Bancorp worth $626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PL Capital Advisors LLC raised its position in shares of Evans Bancorp by 4,230.0% during the 4th 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 during the last quarter. ABC Arbitrage SA purchased a new stake in Evans Bancorp during the 4th quarter valued at about $2,417,000. Bank of New York Mellon Corp purchased a new stake in Evans Bancorp during the 4th quarter valued at about $657,000. Finally, Ritholtz Wealth Management grew its stake in Evans Bancorp by 25.3% during the 4th quarter. Ritholtz Wealth Management now owns 7,022 shares of the company’s stock valued at $304,000 after acquiring an additional 1,417 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Evans Bancorp

In related news, CEO David J. Nasca sold 1,434 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $38.81, for a total value of $55,653.54. Following the transaction, the chief executive officer now directly owns 104,431 shares in the company, valued at approximately $4,052,967.11. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.34% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Evans Bancorp in a research note on Sunday, March 9th. They set a “hold” rating for the company.

Evans Bancorp Trading Up 1.5 %

Shares of NYSE EVBN opened at $39.01 on Friday. Evans Bancorp Inc has a 12-month low of $24.07 and a 12-month high of $46.21. The stock has a market cap of $217.17 million, a PE ratio of 18.14 and a beta of 0.97. 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’s 50-day simple moving average is $42.70.

Evans Bancorp Announces Dividend

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

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.