Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) Sees Large Growth in Short Interest

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) was the recipient of a large 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. Approximately 0.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On Evans Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in 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 buying an additional 1,511 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of Evans Bancorp during the third quarter worth about $556,000. Barclays PLC lifted its holdings 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 last quarter. 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. Finally, Oddo BHF Asset Management Sas purchased a new position in Evans Bancorp during the 3rd quarter worth approximately $5,599,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

Evans Bancorp Price Performance

EVBN stock traded up $0.22 during trading on Monday, hitting $38.97. 13,943 shares of the company traded hands, compared to its average volume of 30,615. The stock’s 50-day moving average is $42.60. The firm has a market capitalization of $215.89 million, a P/E ratio of 11.70 and a beta of 0.92. Evans Bancorp has a 1 year low of $24.07 and a 1 year high of $46.21. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86.

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.