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

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) saw a significant growth in short interest during the month of 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. Based on an average trading volume of 25,300 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.4% of the company’s shares are short sold.

Institutional Trading of Evans Bancorp

A number of hedge funds have recently made changes to their positions in EVBN. JPMorgan Chase & Co. lifted its stake in shares of Evans Bancorp by 18.9% in the 3rd 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 last quarter. Oddo BHF Asset Management Sas purchased a new position in Evans Bancorp during the third quarter valued at $5,599,000. Barclays PLC raised its holdings in Evans Bancorp by 47.7% in 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 last quarter. Geode Capital Management LLC raised its holdings in Evans Bancorp by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock worth $2,175,000 after acquiring an additional 3,583 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in shares of Evans Bancorp in the third quarter worth approximately $556,000. 67.10% of the stock is owned by institutional investors.

Evans Bancorp Stock Up 0.6 %

NYSEAMERICAN:EVBN traded up $0.22 on Monday, hitting $38.97. The stock had a trading volume of 13,943 shares, compared to its average volume of 30,615. The company has a market cap of $215.89 million, a P/E ratio of 11.70 and a beta of 0.92. The company’s fifty day moving average price is $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. Evans Bancorp has a 52 week low of $24.07 and a 52 week high of $46.21.

Analysts Set New Price Targets

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

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.