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

Evans Bancorp, Inc. (NYSEAMERICAN:EVBN)’s stock price 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.

Wall Street Analysts Forecast Growth

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

Evans Bancorp Stock Up 0.4 %

The stock’s 50 day moving average price is $42.71. The stock has a market capitalization of $219.16 million, a P/E ratio of 11.88 and a beta of 0.92. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.86.

Institutional Trading of Evans Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Evans Bancorp by 18.9% during 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 period. Geode Capital Management LLC grew its stake in Evans Bancorp by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock valued at $2,175,000 after acquiring an additional 3,583 shares in the last quarter. Barclays PLC increased 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 period. De Lisle Partners LLP lifted its position in shares of Evans Bancorp by 30.3% in the third quarter. De Lisle Partners LLP now owns 46,943 shares of the bank’s stock worth $1,829,000 after purchasing an additional 10,908 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in shares of Evans Bancorp during the third quarter worth approximately $556,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.