Evans Bancorp Inc. (NASDAQ:EVBN) posted its earnings results on Monday. The bank reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.10, Bloomberg Earnings reports. Evans Bancorp had a net margin of 19.82% and a return on equity of 9.20%. The company had revenue of $14.46 million during the quarter.
Shares of Evans Bancorp (NASDAQ:EVBN) traded up 1.87% on Tuesday, reaching $43.55. 1,993 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $42.89 and a 200 day moving average of $40.75. The firm has a market capitalization of $207.47 million and a P/E ratio of 19.38. Evans Bancorp has a one year low of $25.90 and a one year high of $47.08.
The company also recently announced a semiannual dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th were given a dividend of $0.40 per share. The ex-dividend date was Monday, September 11th. This represents a yield of 1.97%.
Separately, Hovde Group cut shares of Evans Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the company from $45.00 to $48.00 in a research report on Friday, September 29th.
Evans Bancorp declared that its Board of Directors has initiated a share buyback plan on Thursday, October 19th that authorizes the company to buyback 100,000 outstanding shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
An institutional investor recently bought a new position in Evans Bancorp stock. California State Teachers Retirement System acquired a new position in shares of Evans Bancorp Inc. (NASDAQ:EVBN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 8,200 shares of the bank’s stock, valued at approximately $328,000. California State Teachers Retirement System owned about 0.17% of Evans Bancorp at the end of the most recent quarter.
Evans Bancorp Company Profile
Evans Bancorp, Inc is a financial holding company. The Company conducts its business through its subsidiaries, such as Evans Bank, N.A. (the Bank), which provides a range of banking services to consumer and commercial customers in Western New York, and Evans National Financial Services, LLC (ENFS), which hold interests in The Evans Agency, LLC (TEA), which sells various premium-based insurance policies on a commission basis.
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