Short Interest in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Expands By 51.2%

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 19,200 shares, a growth of 51.2% from the February 28th total of 12,700 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 25,300 shares, the short-interest ratio is currently 0.8 days.

Institutional Investors Weigh In On Evans Bancorp

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

Evans Bancorp Trading Down 1.3 %

Shares of EVBN stock traded down $0.50 on Tuesday, reaching $38.48. The company’s stock had a trading volume of 7,405 shares, compared to its average volume of 30,524. The stock’s fifty day simple moving average is $42.48. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $46.21. The stock has a market capitalization of $213.15 million, a P/E 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.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Evans Bancorp in a report on Wednesday, January 8th. They issued a “hold” rating on the stock.

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.