Evans Bancorp (NYSEAMERICAN:EVBN) Releases Quarterly Earnings Results

Evans Bancorp (NYSEAMERICAN:EVBN - Get Free Report) issued its earnings results on Thursday. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.13, Zacks reports. The business had revenue of $31.69 million during the quarter. Evans Bancorp had a net margin of 13.80% and a return on equity of 10.40%.

Evans Bancorp Price Performance

NYSEAMERICAN EVBN traded down $0.28 during trading hours on Friday, reaching $39.54. The company's stock had a trading volume of 14,151 shares, compared to its average volume of 37,867. The stock has a market cap of $218.66 million, a price-to-earnings ratio of 11.87 and a beta of 0.91. Evans Bancorp has a fifty-two week low of $24.07 and a fifty-two week high of $41.18. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.90.

Evans Bancorp Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 12th were paid a $0.66 dividend. The ex-dividend date was Thursday, September 12th. This represents a yield of 3.9%. Evans Bancorp's payout ratio is 39.64%.

Analysts Set New Price Targets

A number of analysts recently weighed in on EVBN shares. StockNews.com started coverage on shares of Evans Bancorp in a research note on Friday. They set a "hold" rating for the company. Keefe, Bruyette & Woods increased their price target on shares of Evans Bancorp from $42.32 to $45.50 and gave the stock a "market perform" rating in a research note on Friday.

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.