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Evans Bancorp (AMEX:EVBN) Stock, Option Chain

Evans Bancorp

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.

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• AmerisourceBergen (NYSE:ABC) is likely to report quarterly earnings at $1.94 per share on revenue of $50.49 billion.

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Earnings Scheduled For February 4, 2021

Evans Bancorp Inc

Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) reported quarterly earnings of $0.67 per share which beat the analyst consensus estimate of $0.48 by 39.58 percent. This is a 63.78 percent decrease over earnings of $1.85 per share from the same period last year.

Earnings Beats

Evans Bancorp Q4 2024 GAAP EPS $0.67 Beats $0.48 Estimate

NBT Bancorp Inc. ("NBT") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBTB#NASDAQ">NBTB</a>) announced that it has received regulatory approval to complete the proposed merger (the "Merger") of Evans Bancorp, Inc. ("Evans") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#NYSE">EVBN</a>) with and into NBT and Evans Bank, N.A. ("Evans Bank") with and into NBT Bank, N.A. ("NBT Bank"). The Office of the Comptroller of the Currency approved the merger of Evans Bank with and into NBT Bank, and NBT received a waiver from the Federal Reserve Bank of New York for any application with respect to the merger of Evans with and into NBT.
On December 20, 2024, the shareholders of Evans voted to approve the Merger. Evans reported&nbsp;over 75% of the issued and outstanding shares of Evans were represented at a special shareholder meeting and over 96% of the votes cast were voted to approve the Merger.

NBTB

NBT Bancorp Receives Regulatory Approval To Complete The Merger With Evans Bancorp, Shareholders Approve Merger

NBT Bancorp Says Following Merger, Evans Bancorp Received 8 Demand Letters And 2 Complaints; Demand Letters And Complaints Allege Misleading Proxy Statement Related To Merger; Evans & Co Believe Allegations Are Without Merit

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) with a Market Perform and raises the price target from $42.32 to $45.5.

Price Target

Analyst Ratings

Keefe, Bruyette & Woods Maintains Market Perform on Evans Bancorp, Raises Price Target to $45.5

Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) reported quarterly earnings of $0.53 per share which beat the analyst consensus estimate of $0.40 by 32.5 percent. This is a 19.7 percent decrease over earnings of $0.66 per share from the same period last year. The company reported quarterly sales of $18.04 million which beat the analyst consensus estimate of $16.68 million by 8.14 percent. This is a 8.95 percent decrease over sales of $19.81 million the same period last year.

Evans Bancorp Q3 2024 GAAP EPS $0.53 Beats $0.40 Estimate, Sales $18.04M Beat $16.68M Estimate

Evans Bancorp To Merge Into And With NBT Bancorp

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) with a Market Perform and raises the price target from $26.5 to $30.5.

Keefe, Bruyette & Woods Maintains Market Perform on Evans Bancorp, Raises Price Target to $30.5

Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) reported quarterly earnings of $0.53 per share which beat the analyst consensus estimate of $0.38 by 39.47 percent. This is a 41.11 percent decrease over earnings of $0.90 per share from the same period last year. The company reported quarterly sales of $16.720 million which beat the analyst consensus estimate of $16.149 million by 3.54 percent. This is a 17.97 percent decrease over sales of $20.382 million the same period last year.

Evans Bancorp Q2 2024 GAAP EPS $0.53 Beats $0.38 Estimate, Sales $16.720M Beat $16.149M Estimate

Although U.S. stocks closed lower on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">United Security Bancshares</h3>
<ul>
<li>The Trade: United Security Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBFO#NASDAQ">UBFO</a>) Director Jagroop Gill <a href="https://www.benzinga.com/quote/UBFO/analyst-ratings">acquired a total of 140,384 shares</a> at an average price of $7.96. To acquire these shares, it cost around $1.12 million.</li>
<li>What's Happening: On July 18, United Security posted second-quarter earnings of 25 cents per share.</li>
<li>What United Security Bancshares Does: United Security Bancshares operates as the holding for United Security Bank.</li>
</ul>
<h3 class="wp-block-heading">Evans Bancorp</h3>
<ul>
<li>The Trade: Evans Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#NYSE">EVBN</a>) 10% owner John W Palmer acquired a total of 6,680 shares at an average price of $32.81. To acquire these shares, it cost around $219,179.</li>
<li>What's Happening: Evans Bancorp will release its second quarter results after the close of financial markets on Tuesday, July 30..</li>
<li>What Evans Bancorp Does: Evans Bancorp Inc is a financial holding company. Through its subsidiaries, it provides various banking services to consumers and commercial customers in the USA.</li>
</ul>
<h3 class="wp-block-heading">Greenwich LifeSciences</h3>
<ul>
<li>The Trade: Greenwich LifeSciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLSI#NASDAQ">GLSI</a>) CEO and CFO Snehal Patel <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 1,500 shares</a> at an average price of $15.89. To acquire these shares, it cost around $23,835.</li>
<li>What's Happening: On June 14, Greenwich LifeSciences announced a $2.5 million private placement.</li>
<li>What Greenwich LifeSciences Does: Greenwich LifeSciences Inc is a clinical-stage biopharmaceutical company focused on the development of GP2, an immunotherapy to prevent breast cancer recurrences in patients who have previously undergone surgery.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39931967/nvidia-mcdonalds-and-2-other-stocks-insiders-are-selling">Nvidia, McDonald&#8217;s And 2 Other Stocks Insiders Are Selling</a></li>
</ul>

Piper Sandler analyst Alexander Twerdahl maintains Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) with a Neutral and lowers the price target from $30 to $27.

Piper Sandler Maintains Neutral on Evans Bancorp, Lowers Price Target to $27

Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) reported quarterly earnings of $0.42 per share which beat the analyst consensus estimate of $0.41 by 2.44 percent. This is a 60.38 percent decrease over earnings of $1.06 per share from the same period last year. The company reported quarterly sales of $16.174 million which beat the analyst consensus estimate of $16.060 million by 0.71 percent. This is a 24.55 percent decrease over sales of $21.438 million the same period last year.

Evans Bancorp Q1 2024 GAAP EPS $0.42 Beats $0.41 Estimate, Sales $16.174M Beat $16.060M Estimate

Piper Sandler analyst Alexander Twerdahl downgrades Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) from Overweight to Neutral and announces $32 price target.

Downgrades

Piper Sandler Downgrades Evans Bancorp to Neutral, Announces $32 Price Target

Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) reported quarterly earnings of $1.85 per share which beat the analyst consensus estimate of $0.45 by 311.11 percent. This is a 68.18 percent increase over earnings of $1.10 per share from the same period last year. The company reported quarterly sales of $32.50 million which beat the analyst consensus estimate of $17.67 million by 83.91 percent. This is a 37.26 percent increase over sales of $23.68 million the same period last year.

Evans Bancorp Q4 EPS $1.85 Beats $0.45 Estimate, Sales $32.50M Beat $17.67M Estimate

Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) reported quarterly earnings of $1.85 per share which beat the analyst consensus estimate of $0.45 by 311.11 percent. This is a 68.18 percent increase over earnings of $1.10 per share from the same period last year.

Evans Bancorp Q4 EPS $1.85 Beats $0.45 Estimate

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Earnings Scheduled For February 1, 2024

Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) is set to give its latest quarterly earnings report on Thursday, 2024-02-01. Here's what investors need to know before the announcement.
Analysts estimate that Evans Bancorp will report an earnings per share (EPS) of $0.45. 
Evans Bancorp bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company missed EPS by $0.05, which was followed by a 3.02% drop in the share price the next day.
Here's a look at Evans Bancorp's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.71</td>
<td>0.64</td>
<td>0.89</td>
<td>1.08</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.66</td>
<td>0.90</td>
<td>1.06</td>
<td>1.10</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-3.02%</td>
<td>2.17%</td>
<td>0.19%</td>
<td>0.25%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1706734909_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Evans Bancorp were trading at $30.65 as of January 30. Over the last 52-week period, shares are down 25.26%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/EVBN/earnings">To track all earnings releases for Evans Bancorp visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Preview Of Evans Bancorp's Earnings

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) with a Market Perform and raises the price target from $25 to $26.5.

Keefe, Bruyette & Woods Maintains Market Perform on Evans Bancorp, Raises Price Target to $26.5-Report Released on 13th Nov 2023

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fevansbank.com%2F&amp;esheet=53774242&amp;newsitemid=20231107868128&amp;lan=en-US&amp;anchor=Evans+Bancorp%2C+Inc.&amp;index=1&amp;md5=5ff17e05bb8726f940b44906fbdf81db">Evans Bancorp, Inc.</a> (the "Company" or "Evans") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#NYSE">EVBN</a>), a community financial services company serving Western New York since 1920, announced today that it has entered into a definitive agreement to sell The Evans Agency, LLC ("TEA") to Arthur J. Gallagher &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>) ("Gallagher") for $40 million. The transaction is subject to customary closing conditions and is anticipated to be completed in the fourth quarter of 2023.
Key Highlights:
<ul>
<li>Evans' growth of TEA over the years culminates with the capture of a valuation premium, providing capital to strategically redeploy across the core banking franchise.</li>
<li>Demonstrates significant value creation and delivers measurable shareholder value ~ 3.9x LTM Insurance Agency Revenue and ~ 20.3x 9/30/23 LTM Earnings</li>
<li>The net gain on sale, on an after-tax basis, is expected to be approximately $15.1 million.</li>
<li>Eliminates $12 million of goodwill and other intangibles.</li>
<li>Transaction is financially compelling with approximate pro forma impact to capital, prior to potential deployment of proceeds:
<ul>
<li>TCE / TA: Improves by 112 basis points to 7.47%</li>
<li>Tier 1 Leverage: Improves by 119 basis points to 10.58%</li>
<li>Total Risk Based Capital: Improves by 151 basis points to 14.80%</li>
<li>Tangible Book Value Per Share: Improves by 18.9% to $29.77</li>
</ul>
</li>
<li>Transaction proceeds provide potential net income and earnings per share enhancements as generated capital is deployed through strategic and franchise growth initiatives over time.</li>
</ul>
David J. Nasca, President and CEO of Evans Bancorp, Inc., said, "For 23 years, the insurance business has been an integral part of Evans Bank. During that time, the Bank acquired over 15 agencies and successfully built a customer-centric, high-performing operation with strong values and a reputation for outstanding talent and service excellence. After extensive diligence, we believe AJG is the right partner, providing optimal benefit for all stakeholders, including assuring our associates and clients are well taken care of. This transaction realizes a significant valuation premium and is immediately accretive to Evans' capital, tangible book value, and liquidity. The additional capital provides flexibility to evaluate and pursue various strategic initiatives to redeploy capital in support of our core banking business with a focus on continuing to enhance long-term shareholder value."
Aaron Whitehouse, President of The Evans Agency, added, "Evans Agency associates will be joining a global insurance brokerage, risk management, and consulting services firm with an unrivaled tool kit to respond to client needs. Clients will have access to enhanced resources and a greater breadth of insurance expertise, while continuing to work with the existing talented team of Evans Agency associates and leadership. Our partnership with Evans has been marked by two core principles: a commitment to excellent client service and creating a culture where associates thrive and can realize their full potential. Together, we chose to partner with Gallagher as they share these same principles. I am very excited about what this partnership will mean for our clients and associates."
Founded in 1913, The Evans Agency is a retail insurance agency offering life insurance, employee benefits, and property and casualty insurance throughout New York and the Northeast. Current leadership and direct employees of The Evans Agency are expected to join Gallagher.
Piper Sandler &amp; Co. acted as exclusive financial advisor and Luse Gorman, PC acted as legal counsel to Evans Bancorp, Inc.

Asset Sales

Evans Bancorp, Inc. Announces Agreement To Sell the Insurance Operations Of The Evans Agency, LLC To Arthur J. Gallagher & Co. For $40M

Piper Sandler analyst Alexander Twerdahl maintains Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) with a Overweight and lowers the price target from $30 to $29.

Piper Sandler Maintains Overweight on Evans Bancorp, Lowers Price Target to $29

Evans Bancorp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EVBN#AMEX">EVBN</a>) reported quarterly earnings of $0.66 per share which missed the analyst consensus estimate of $0.71 by 7.04 percent. This is a 37.74 percent decrease over earnings of $1.06 per share from the same period last year. The company reported quarterly sales of $19.81 million which missed the analyst consensus estimate of $20.48 million by 3.26 percent. This is a 20.61 percent decrease over sales of $24.95 million the same period last year.

Evans Bancorp Q3 EPS $0.66 Misses $0.71 Estimate, Sales $19.81M Miss $20.48M Estimate

Legal

Press Releases

Kuehn Law Encourages MNTX, FYBR, EVBN, and PETQ Investors to Contact Law Firm

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates FYBR, CNOB, EVBN on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates FYBR, EVBN, SGRP on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates NAPA, MNTX, SMAR, EVBN on Behalf of Shareholders

Evans Bancorp Reports Net Income of $2.9 Million In Third Quarter 2024

EVANS BANCORP INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Evans Bancorp, Inc. - EVBN

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates SBT, CDE, SMAR, EVBN on Behalf of Shareholders

NBT Bancorp Inc. Receives Regulatory Approval, Evans Bancorp, Inc. Shareholders Approve Merger

Evans Bancorp Reports Net Income of $3.7 Million In Fourth Quarter 2024

Evans Bancorp, Inc. Announces Semi-Annual Cash Dividend

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