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

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 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.

Analyst Ratings Changes

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

Evans Bancorp Stock Performance

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised 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 in the last quarter. Geode Capital Management LLC grew 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 valued at $2,175,000 after buying an additional 3,583 shares during the last quarter. Barclays PLC grew its holdings in 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. Prime Capital Investment Advisors LLC acquired a new stake in Evans Bancorp in the 3rd quarter valued at approximately $251,000. Finally, De Lisle Partners LLP grew its holdings in 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 buying an additional 10,908 shares during the last quarter. 67.10% of the stock is owned by institutional investors.

Evans Bancorp Company Profile

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.