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Evans Bancorp (EVBN)
:EVBN
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Evans Bancorp
(NYSE MKT:EVBN)
Rating:60Neutral
Price Target:―
Evans Bancorp (EVBN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$220.08M
Dividend Yield3.34%
Average Volume (3M)16.49K
Price to Earnings (P/E)18.3
Beta (1Y)0.89
Revenue Growth-6.85%
EPS Growth-51.70%
CountryUS
Employees266
SectorFinancial
Sector Strength81
IndustryBanks - Regional
Share Statistics
EPS (TTM)N/A
Shares Outstanding4,924,000
10 Day Avg. Volume9,245
30 Day Avg. Volume16,488
Financial Highlights & Ratios
PEG Ratio-0.52
Price to Book (P/B)1.20
Price to Sales (P/S)0.00
P/FCF Ratio-69.80
Enterprise Value/Market Cap1.33
Enterprise Value/Revenue0.78
Enterprise Value/Gross Profit4.23
Enterprise Value/Ebitda8.50
Forecast
1Y Price Target
$50.05Price Target Upside26.61% Upside
Rating ConsensusHold
Number of Analyst Covering0
Evans Bancorp Business Overview & Revenue Model
Company DescriptionEvans Bancorp, Inc. (EVBN) is a financial holding company headquartered in Hamburg, New York. It is the parent company of Evans Bank, N.A., a community-focused bank offering a comprehensive range of financial services. The bank operates primarily in the Western New York region and provides traditional banking products such as personal and commercial banking services, including loans, savings accounts, and checking accounts. Evans Bancorp also offers insurance services through its subsidiary, The Evans Agency, which provides personal, commercial, and financial insurance solutions.
How the Company Makes MoneyEvans Bancorp generates revenue primarily through interest income derived from its core banking operations. This includes income from loans provided to individuals and businesses, as well as interest earned on securities and other investments. Another significant revenue stream is non-interest income, which comes from service charges on deposit accounts, fees from loan servicing, and income from its insurance operations through The Evans Agency. Additionally, the company benefits from strategic partnerships and collaborations that enhance its product offerings and customer reach, further contributing to its earnings.
Evans Bancorp Financial Statement Overview
Summary
Evans Bancorp shows stable financial health with low leverage and strong historical profit margins. However, recent inconsistencies in revenue growth and cash flow generation pose challenges. The company's financial structure appears robust, but operational cash flow metrics suggest a need for improved cash conversion efficiency.Income Statement
The company's revenue growth has been inconsistent, with a decline in recent years. The net profit margin was notable in 2023 at 26.1%, indicating strong profitability. However, due to missing data for 2024, the profit margins could not be assessed for that year, which lowers confidence in current performance.55
Neutral
Balance Sheet
Evans Bancorp maintains a stable equity position with a debt-to-equity ratio of 0.02 in 2024, indicating low leverage and financial stability. However, the fluctuating stockholders' equity and total assets over the years suggest potential volatility in the financial structure.65
Positive
Cash Flow
The company experienced a significant reduction in free cash flow in 2024. The operating cash flow to net income ratio was negative, indicating challenges in converting income into cash flow. Despite fluctuations, the company managed positive free cash flow in most prior years, showing some historical resilience.50
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 69.21M | 94.11M | 92.23M | 91.61M | 76.16M | Gross Profit |
| 69.21M | 94.13M | 92.23M | 91.61M | 76.16M | EBIT |
| 13.74M | 0.00 | 37.33M | 31.93M | 12.81M | EBITDA |
| 0.00 | 0.00 | 31.20M | 33.19M | 14.01M | Net Income Common Stockholders |
| 11.95M | 24.52M | 22.39M | 24.04M | 11.25M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 14.62M | 23.47M | 387.38M | 540.89M | 246.30M | Total Assets |
| 2.19B | 2.11B | 2.18B | 2.21B | 2.04B | Total Debt |
| 115.35M | 189.84M | 231.22M | 67.97M | 79.66M | Net Debt |
| 72.64M | 166.37M | 224.97M | -166.96M | -4.24M | Total Liabilities |
| 2.00B | 1.93B | 2.02B | 67.97M | 1.88B | Stockholders Equity |
| 183.14M | 178.22M | 153.99M | 183.89M | 168.91M |
| Cash Flow | Free Cash Flow | |||
| -3.10M | 15.18M | 25.40M | 19.48M | 1.97M | Operating Cash Flow |
| -2.76M | 15.70M | 26.41M | 20.51M | 7.79M | Investing Cash Flow |
| -51.11M | 89.37M | -236.57M | -22.62M | -213.39M | Financing Cash Flow |
| 73.11M | -104.65M | -11.56M | 149.29M | 264.35M |
Evans Bancorp Technical Analysis
Positive
39.53
Price Trends
38.36
Positive
40.49
Negative
39.30
Positive
Market Momentum
0.48
Negative
61.51
Neutral
90.91
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EVBN, the sentiment is Positive. The current price of 39.53 is above the 20-day moving average (MA) of 38.17, above the 50-day MA of 38.36, and above the 200-day MA of 39.30, indicating a bullish trend. The MACD of 0.48 indicates Negative momentum. The RSI at 61.51 is Neutral, neither overbought nor oversold. The STOCH value of 90.91 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EVBN.
Evans Bancorp Risk Analysis
Evans Bancorp disclosed 34 risk factors in its most recent earnings report. Evans Bancorp reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
The Number of Shares of NBT Common Stock to be Exchanged per Share of Company Common Stock is Fixed and Will Not Be Adjusted if NBT's Share Price Changes Q4, 2024
2.
Shareholder Litigation Could Prevent or Delay the Closing of the Merger or Otherwise Negatively Affect the Business and Operations of the Company. Q4, 2024
3.
The Merger Agreement Contains Provisions that Limit the Company's Ability to Pursue Alternatives to the Merger and May Discourage Other Companies From Trying to Acquire the Company. Q4, 2024
Evans Bancorp Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $224.54M | 10.56 | 10.50% | 4.30% | 14.11% | 29.41% | |
66 Neutral | $236.05M | 14.60 | 7.72% | 2.75% | 8.36% | -2.51% | |
64 Neutral | $12.66B | 9.79 | 7.67% | 17015.07% | 12.23% | -6.06% | |
63 Neutral | $225.29M | 9.92 | 10.65% | 2.68% | 6.05% | -9.27% | |
61 Neutral | $215.06M | 13.29 | 6.54% | 5.94% | 24.45% | 25.77% | |
60 Neutral | $220.08M | 18.32 | 6.62% | 3.34% | -6.85% | -51.70% | |
50 Neutral | $233.38M | 58.85 | 1.06% | 4.31% | 5.36% | -2.23% |
* Financial Sector Average
Performance Comparison
EVBN
Evans Bancorp
39.53
12.85
48.16%
LCNB
LCNB
14.37
0.74
5.43%
PWOD
Penns Woods Bancorp
29.49
10.60
56.11%
FRST
Primis Financial
9.30
-1.02
-9.88%
CHMG
Chemung Financial
47.03
4.38
10.27%
MBCN
Middlefield Banc
29.21
7.49
34.48%
Evans Bancorp Earnings Call Summary
Earnings Call Date:Apr 24, 2025
(Q2-2024)
| % Change Since: 3.54%|
Next Earnings Date:Jul 24, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong growth in the loan portfolio, a significant increase in net income, and successful deposit gathering efforts. However, challenges included a decline in year-over-year net interest income and ongoing competitive pressure on deposit pricing. The overall sentiment is cautiously optimistic with a focus on strategic priorities for sustained growth.Q2-2024 Updates
Positive Updates
Strong Loan Portfolio Growth
Commercial loan production produced $44 million in originations with a $137 million pipeline in place, anticipating mid-single-digit growth for the full year.
Significant Increase in Net Income
Net income increased by 26% on a sequential basis, driven by higher net interest income and lower noninterest expenses.
Stable Deposit Base and Balance Sheet Optimization
Deposit gathering efforts resulted in gains in both retail and commercial businesses, with a year-to-date increase of $173 million or 10%.
Efficiency Improvements
The introduction of electronic signature pads in branches improved data integrity and efficiency, reducing paper consumption.
Community Engagement
Continued commitment to community banking with involvement in Regional Revitalization Partnership, a $300 million initiative to revitalize economically distressed neighborhoods.
Negative Updates
Decline in Year-Over-Year Net Interest Income
Year-over-year decline in net interest income due to competitive pressure on deposit pricing and the impact of the sale of the Evans Agency.
Net Interest Margin Contraction
Net interest margin decreased by 8 basis points from the linked quarter, though it was better than expected.
Ongoing Competitive Deposit Pricing
Higher interest expense driven by competitive deposit pricing, impacting net interest income.
Company Guidance
During the Evans Bancorp Q2 2024 earnings call, the company provided guidance indicating a cautiously optimistic outlook for the remainder of the year. The bank reported a solid performance with a notable 26% increase in net income on a sequential basis, achieving earnings of $2.9 million or $0.53 per diluted share. The growth was driven by higher net interest income, which increased to $14.3 million, and lower noninterest expenses. The bank's net interest margin was reported at 2.71%, slightly down from the previous quarter but exceeding internal expectations due to strategic balance sheet optimization. The commercial loan production was robust, with $44 million in originations and a $137 million pipeline, setting the stage for anticipated mid-single-digit growth for the full year. The bank also highlighted its successful deposit gathering efforts, which saw a year-to-date increase of $173 million or 10%. Looking forward, Evans Bancorp expects modest increases in funding costs in the third quarter, with the net interest margin anticipated to decrease slightly to approximately 2.68%. The bank also remains focused on maintaining operational efficiencies and managing expenses to ensure sustainable returns.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.