Endeavour Capital Advisors Inc. Sells 49,876 Shares of Evans Bancorp Inc (NYSE:EVBN)

Endeavour Capital Advisors Inc. cut its position in Evans Bancorp Inc (NYSE:EVBN) by 18.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 227,805 shares of the company’s stock after selling 49,876 shares during the period. Evans Bancorp comprises about 3.1% of Endeavour Capital Advisors Inc.’s portfolio, making the stock its 11th largest position. Endeavour Capital Advisors Inc. owned approximately 4.11% of Evans Bancorp worth $9,864,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EVBN. Ritholtz Wealth Management raised its holdings in Evans Bancorp by 25.3% during the 4th quarter. Ritholtz Wealth Management now owns 7,022 shares of the company’s stock worth $304,000 after buying an additional 1,417 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of Evans Bancorp by 44.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,402 shares of the company’s stock worth $580,000 after purchasing an additional 4,133 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Evans Bancorp in the fourth quarter valued at $657,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Evans Bancorp by 8.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 24,362 shares of the company’s stock valued at $1,055,000 after acquiring an additional 1,817 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Evans Bancorp by 15.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 29,542 shares of the company’s stock valued at $1,279,000 after acquiring an additional 3,921 shares during the last quarter. 67.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Evans Bancorp in a report on Wednesday. They issued a “hold” rating for the company.

Evans Bancorp Stock Performance

Evans Bancorp stock opened at $38.67 on Wednesday. The stock’s 50-day simple moving average is $41.88. The company has a market capitalization of $215.28 million, a PE ratio of 17.99 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99. Evans Bancorp Inc has a 52 week low of $24.07 and a 52 week high of $46.21.

Evans Bancorp Announces Dividend

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

Insider Buying and Selling at Evans Bancorp

In related news, CEO David J. Nasca sold 1,434 shares of Evans Bancorp stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $38.81, for a total transaction of $55,653.54. Following the completion of the sale, the chief executive officer now owns 104,431 shares of the company’s stock, valued at approximately $4,052,967.11. The trade was a 1.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.34% of the company’s stock.

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.