HomeEntrepreneurEvans Bancorp (EVBN) This fall Earnings and Revenues Beat Estimates

Evans Bancorp (EVBN) This fall Earnings and Revenues Beat Estimates

This story initially appeared on Zacks

Evans Bancorp (EVBN) got here out with quarterly earnings of $1.06 per share, beating the Zacks Consensus Estimate of $0.95 per share. This compares to earnings of $1.11 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.

– Zacks

This quarterly report represents an earnings shock of 11.58%. 1 / 4 in the past, it was anticipated that this financial institution would publish earnings of $0.94 per share when it really produced earnings of $1.27, delivering a shock of 35.11%.

Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 3 times.

Evans Bancorp, which belongs to the Zacks Banks – Northeast business, posted revenues of $24.38 million for the quarter ended December 2021, surpassing the Zacks Consensus Estimate by 7.69%. This compares to year-ago revenues of $21.23 million. The corporate has topped consensus income estimates 3 times during the last 4 quarters.

The sustainability of the inventory’s speedy value motion based mostly on the recently-released numbers and future earnings expectations will principally rely on administration’s commentary on the earnings name.

Evans Bancorp shares have added about 9.1% because the starting of the 12 months versus the S&P 500’s decline of -3.7%.

What’s Subsequent for Evans Bancorp?

Whereas Evans Bancorp has outperformed the market thus far this 12 months, the query that involves traders’ minds is: what’s subsequent for the inventory?

There are not any straightforward solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified currently.

Empirical analysis reveals a robust correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested score device just like the Zacks Rank, which has a formidable observe report of harnessing the ability of earnings estimate revisions.

Forward of this earnings launch, the estimate revisions development for Evans Bancorp: blended. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out according to the market within the close to future. You possibly can see the whole listing of right this moment’s Zacks #1 Rank (Robust Purchase) shares right here.

It will likely be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.72 on $20.95 million in revenues for the approaching quarter and $3.39 on $88.48 million in revenues for the present fiscal 12 months.

Traders needs to be aware of the truth that the outlook for the business can have a cloth affect on the efficiency of the inventory as properly. When it comes to the Zacks Trade Rank, Banks – Northeast is at present within the high 6% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.

One other inventory from the identical business, Farmers & Retailers Bancorp Inc. (FMAO), has but to report outcomes for the quarter ended December 2021.

This firm is predicted to publish quarterly earnings of $0.50 per share in its upcoming report, which represents a year-over-year change of +4.2%. The consensus EPS estimate for the quarter has remained unchanged during the last 30 days.

Farmers & Retailers Bancorp Inc.’s revenues are anticipated to be $22.3 million, up 2.5% from the year-ago quarter.

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Evans Bancorp, Inc. (EVBN): Free Inventory Evaluation Report
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