Initiates Coverage on Evans Bancorp (NYSE:EVBN) started coverage on shares of Evans Bancorp (NYSE:EVBNGet Rating) in a note issued to investors on Thursday. The firm set a “buy” rating on the stock.

NYSE EVBN opened at $38.39 on Thursday. The firm has a market capitalization of $211.07 million, a P/E ratio of 8.85 and a beta of 0.98. The firm’s fifty day simple moving average is $38.72. Evans Bancorp has a 1 year low of $34.89 and a 1 year high of $44.47. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.35.

Evans Bancorp (NYSE:EVBNGet Rating) last posted its earnings results on Thursday, February 3rd. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. The company had revenue of $24.38 million during the quarter, compared to the consensus estimate of $22.64 million. Evans Bancorp had a net margin of 24.98% and a return on equity of 13.34%. As a group, equities analysts predict that Evans Bancorp will post 3.52 earnings per share for the current year.

Evans Bancorp Company Profile (Get Rating)

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.

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