Evans Bancorp Up 1.45% To $30.00 After Earnings Beat

Evans Bancorp (EVBN) said after close Thursday that it earned $1.85 per share in quarter four 2023.

On the revenue line, the company reported $32.5 million, beating estimates by $14.8 million.

In the same quarter a year ago, the company earned $1.1 per share on revenue of $23.7 million.

The stock is up 1.45% to $30.00 after the report.

Evans Bancorp's earnings expanded faster than revenues, signaling widening profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Evans Bancorp a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 22. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Evans Bancorp Inc is a financial holding company. Through its subsidiaries, it provides various banking services to consumers and commercial customers in the USA. The firm operates in two segments, Banking Activities and Insurance Agency Activities. The banking business segment includes both commercial and consumer banking services, including lending and depository services and offering non-deposit investment products, such as annuities and mutual funds. The insurance agency segment includes the activities of selling various premium-based insurance policies on a commission basis, including business and personal insurance, employee benefits, surety bonds, risk management, life, disability and long-term care coverage, and providing claims adjusting services to various insurance companies.