Evans Bancorp (NYSEAMERICAN:EVBN) Share Price Crosses Below Fifty Day Moving Average - Here's Why

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN - Get Free Report)'s share price passed 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.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Evans Bancorp in a report on Wednesday, January 8th. They set a "hold" rating for the company.

Check Out Our Latest Stock Report on EVBN

Evans Bancorp Stock Up 0.4 %

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $42.71. The stock has a market cap of $219.16 million, a price-to-earnings ratio of 11.88 and a beta of 0.92.

Hedge Funds Weigh In On Evans Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in 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 buying an additional 1,511 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 worth $2,175,000 after acquiring an additional 3,583 shares during the period. Barclays PLC boosted its holdings in shares of Evans Bancorp by 47.7% in the third quarter. Barclays PLC now owns 16,163 shares of the bank's stock valued at $630,000 after acquiring an additional 5,218 shares in the last quarter. De Lisle Partners LLP increased its stake in shares of Evans Bancorp by 30.3% during the third quarter. De Lisle Partners LLP now owns 46,943 shares of the bank's stock valued at $1,829,000 after acquiring an additional 10,908 shares during the period. Finally, Stifel Financial Corp acquired a new position in shares of Evans Bancorp during the third quarter valued at approximately $556,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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.

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