Evans Bancorp (NYSEAMERICAN:EVBN) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $43.71 and traded as low as $40.60. Evans Bancorp shares last traded at $40.97, with a volume of 39,059 shares traded.

Wall Street Analyst Weigh In

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

Evans Bancorp Stock Down 0.9 %

The stock’s 50 day moving average price is $43.71. The stock has a market capitalization of $226.97 million, a price-to-earnings ratio of 12.30 and a beta of 0.92. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.99.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EVBN. Oddo BHF Asset Management Sas acquired a new position in shares of Evans Bancorp in the 3rd quarter valued at $5,599,000. Geode Capital Management LLC boosted its position in shares of Evans Bancorp by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock valued at $2,175,000 after purchasing an additional 3,583 shares during the period. De Lisle Partners LLP boosted its position in shares of Evans Bancorp by 30.3% in the 3rd quarter. De Lisle Partners LLP now owns 46,943 shares of the bank’s stock valued at $1,829,000 after purchasing an additional 10,908 shares during the period. Barclays PLC boosted its position in shares of Evans Bancorp by 47.7% in the 3rd quarter. Barclays PLC now owns 16,163 shares of the bank’s stock valued at $630,000 after purchasing an additional 5,218 shares during the period. Finally, Stifel Financial Corp acquired a new position in shares of Evans Bancorp in the 3rd quarter valued at $556,000. Institutional investors own 67.10% of the company’s stock.

About Evans Bancorp

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.