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EVBN

Evans Bancorp NYSEAM:EVBN Stock Report

Last Price

US$32.82

Market Cap

US$179.9m

7D

-3.4%

1Y

-13.4%

Updated

26 Jun, 2022

Data

Company Financials +
EVBN fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance5/6
Financial Health5/6
Dividends4/6

EVBN Stock Overview

Evans Bancorp, Inc. primarily operates as the financial holding company for Evans Bank, N.A.

Evans Bancorp Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Evans Bancorp
Historical stock prices
Current Share PriceUS$32.82
52 Week HighUS$44.48
52 Week LowUS$32.61
Beta1.01
1 Month Change-14.31%
3 Month Change-15.00%
1 Year Change-13.43%
3 Year Change-13.01%
5 Year Change-17.85%
Change since IPO243.90%

Recent News & Updates

Shareholder Returns

EVBNUS BanksUS Market
7D-3.4%3.7%6.6%
1Y-13.4%-17.7%-18.4%

Return vs Industry: EVBN exceeded the US Banks industry which returned -17.7% over the past year.

Return vs Market: EVBN exceeded the US Market which returned -18.4% over the past year.

Price Volatility

Is EVBN's price volatile compared to industry and market?
EVBN volatility
EVBN Average Weekly Movement3.9%
Banks Industry Average Movement3.8%
Market Average Movement8.1%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.2%

Stable Share Price: EVBN is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: EVBN's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1920378David Nascahttps://evansbank.com

Evans Bancorp, Inc. primarily operates as the financial holding company for Evans Bank, N.A. that provides a range of banking products and services to consumer and commercial customers in Western New York and the Finger Lakes Region of New York State. It operates in two segments, Banking Activities and Insurance Agency Activities. The company offers deposit products, which include checking and negotiable order of withdrawal accounts, savings accounts, and certificates of deposit.

Evans Bancorp Fundamentals Summary

How do Evans Bancorp's earnings and revenue compare to its market cap?
EVBN fundamental statistics
Market CapUS$179.94m
Earnings (TTM)US$23.94m
Revenue (TTM)US$92.99m

7.5x

P/E Ratio

1.1x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
EVBN income statement (TTM)
RevenueUS$92.99m
Cost of RevenueUS$0
Gross ProfitUS$92.99m
Other ExpensesUS$69.05m
EarningsUS$23.94m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)4.37
Gross Margin100.00%
Net Profit Margin25.75%
Debt/Equity Ratio38.0%

How did EVBN perform over the long term?

See historical performance and comparison

Dividends

3.8%

Current Dividend Yield

28%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is EVBN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EVBN?

Other financial metrics that can be useful for relative valuation.

EVBN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio-8x

Price to Earnings Ratio vs Peers

How does EVBN's PE Ratio compare to its peers?

EVBN PE Ratio vs Peers
The above table shows the PE ratio for EVBN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average8.5x
HLAN Heartland BancCorp
10.1x4.8%US$181.7m
OBT Orange County Bancorp
9.2x14.5%US$198.1m
MBLU Morris State Bancshares
7.6xn/aUS$170.8m
HWBK Hawthorn Bancshares
7.1xn/aUS$166.2m
EVBN Evans Bancorp
7.5x-0.9%US$179.9m

Price-To-Earnings vs Peers: EVBN is good value based on its Price-To-Earnings Ratio (7.5x) compared to the peer average (8.5x).


Price to Earnings Ratio vs Industry

How does EVBN's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: EVBN is good value based on its Price-To-Earnings Ratio (7.5x) compared to the US Banks industry average (9.6x)


Price to Earnings Ratio vs Fair Ratio

What is EVBN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EVBN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.5x
Fair PE Ratio10.1x

Price-To-Earnings vs Fair Ratio: EVBN is good value based on its Price-To-Earnings Ratio (7.5x) compared to the estimated Fair Price-To-Earnings Ratio (10.1x).


Share Price vs Fair Value

What is the Fair Price of EVBN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EVBN ($32.82) is trading below our estimate of fair value ($81.32)

Significantly Below Fair Value: EVBN is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: EVBN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


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Future Growth

How is Evans Bancorp forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-0.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EVBN's earnings are forecast to decline over the next 3 years (-0.9% per year).

Earnings vs Market: EVBN's earnings are forecast to decline over the next 3 years (-0.9% per year).

High Growth Earnings: EVBN's earnings are forecast to decline over the next 3 years.

Revenue vs Market: EVBN's revenue (3.4% per year) is forecast to grow slower than the US market (8.4% per year).

High Growth Revenue: EVBN's revenue (3.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if EVBN's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Evans Bancorp performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


14.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: EVBN has high quality earnings.

Growing Profit Margin: EVBN's current net profit margins (25.7%) are higher than last year (19.8%).


Past Earnings Growth Analysis

Earnings Trend: EVBN's earnings have grown by 14.8% per year over the past 5 years.

Accelerating Growth: EVBN's earnings growth over the past year (50.6%) exceeds its 5-year average (14.8% per year).

Earnings vs Industry: EVBN earnings growth over the past year (50.6%) exceeded the Banks industry 20.7%.


Return on Equity

High ROE: EVBN's Return on Equity (14.1%) is considered low.


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Financial Health

How is Evans Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

5/6

Financial Health Score 5/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: EVBN's Assets to Equity ratio (13.2x) is moderate.

Allowance for Bad Loans: EVBN has a low allowance for bad loans (89%).

Low Risk Liabilities: 96% of EVBN's liabilities are made up of primarily low risk sources of funding.

Loan Level: EVBN has an appropriate level of Loans to Assets ratio (71%).

Low Risk Deposits: EVBN's Loans to Deposits ratio (80%) is appropriate.

Level of Bad Loans: EVBN has an appropriate level of bad loans (1.3%).


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Dividend

What is Evans Bancorp current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.78%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: EVBN's dividend (3.78%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: EVBN's dividend (3.78%) is low compared to the top 25% of dividend payers in the US market (4.24%).


Stability and Growth of Payments

Stable Dividend: EVBN's dividends per share have been stable in the past 10 years.

Growing Dividend: EVBN's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (27.9%), EVBN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years or that it will be covered by earnings.


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Management

How experienced are the management team and are they aligned to shareholders interests?

6.6yrs

Average management tenure


CEO

David Nasca (63 yo)

15.5yrs

Tenure

US$1,039,433

Compensation

Mr. David John Nasca has been the Chief Executive Officer of Evans BanCorp, Inc. and Evans Bank NA (Evans Bank, National Association) since April 1, 2007 and its Chief Financial Officer since November 5, 2...


CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD1.04M) is below average for companies of similar size in the US market ($USD1.69M).

Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: EVBN's management team is seasoned and experienced (6.6 years average tenure).


Board Members

Experienced Board: EVBN's board of directors are considered experienced (9.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Evans Bancorp, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Evans Bancorp, Inc.
  • Ticker: EVBN
  • Exchange: NYSEAM
  • Founded: 1920
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$179.938m
  • Shares outstanding: 5.48m
  • Website: https://evansbank.com

Number of Employees


Location

  • Evans Bancorp, Inc.
  • 6460 Main Street
  • Williamsville
  • New York
  • 14221
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/26 00:00
End of Day Share Price2022/06/24 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.