Evans Bancorp (NYSEAMERICAN:EVBN) Stock Crosses Below 50 Day Moving Average – Should You Sell?

Shares of Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $42.71 and traded as low as $39.21. Evans Bancorp shares last traded at $39.56, with a volume of 23,182 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Evans Bancorp in a research report on Wednesday, January 8th. They set a “hold” rating for the company.

Evans Bancorp Trading Down 2.0 %

The stock has a 50-day simple moving average of $42.60. 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 stock has a market cap of $214.68 million, a price-to-earnings ratio of 11.64 and a beta of 0.92.

Institutional Investors Weigh In On Evans Bancorp

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Evans Bancorp by 18.9% during the third quarter. JPMorgan Chase & Co. now owns 9,503 shares of the bank’s stock worth $370,000 after purchasing an additional 1,511 shares during the period. Stifel Financial Corp bought a new stake in shares of Evans Bancorp in the 3rd quarter valued at about $556,000. Barclays PLC grew 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 buying an additional 5,218 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Evans Bancorp by 6.9% in the third quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock valued at $2,175,000 after buying an additional 3,583 shares during the period. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Evans Bancorp during the third quarter worth about $5,599,000. 67.10% of the stock is owned by institutional investors.

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.