Fintel reports that on October 27, 2023, Piper Sandler maintained coverage of Evans Bancorp (AMEX:EVBN) with a Overweight recommendation.
Analyst Price Forecast Suggests 20.67% Upside
As of October 5, 2023, the average one-year price target for Evans Bancorp is 30.94. The forecasts range from a low of 29.80 to a high of $33.08. The average price target represents an increase of 20.67% from its latest reported closing price of 25.64.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Evans Bancorp is 100MM, an increase of 18.59%. The projected annual non-GAAP EPS is 4.28.
Evans Bancorp Declares $0.66 Dividend
On August 23, 2023 the company declared a regular semi-annual dividend of $0.66 per share ($1.32 annualized). Shareholders of record as of September 19, 2023 received the payment on October 18, 2023. Previously, the company paid $0.66 per share.
At the current share price of $25.64 / share, the stock's dividend yield is 5.15%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.58%, the lowest has been 2.11%, and the highest has been 5.61%. The standard deviation of yields is 0.86 (n=234).
The current dividend yield is 1.82 standard deviations above the historical average.
The company's 3-Year dividend growth rate is 0.14%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 145 funds or institutions reporting positions in Evans Bancorp. This is an increase of 54 owner(s) or 59.34% in the last quarter. Average portfolio weight of all funds dedicated to EVBN is 0.11%, a decrease of 52.47%. Total shares owned by institutions increased in the last three months by 4.42% to 3,828K shares.
What are Other Shareholders Doing?
FJ Capital Management holds 540K shares representing 9.95% ownership of the company. No change in the last quarter.
PL Capital Advisors holds 523K shares representing 9.63% ownership of the company. In it's prior filing, the firm reported owning 534K shares, representing a decrease of 2.10%. The firm decreased its portfolio allocation in EVBN by 17.47% over the last quarter.
Manufacturers Life Insurance Company, The holds 296K shares representing 5.45% ownership of the company. In it's prior filing, the firm reported owning 297K shares, representing a decrease of 0.25%. The firm decreased its portfolio allocation in EVBN by 26.83% over the last quarter.
Alliancebernstein holds 226K shares representing 4.17% ownership of the company. In it's prior filing, the firm reported owning 184K shares, representing an increase of 18.88%. The firm decreased its portfolio allocation in EVBN by 12.74% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 164K shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 231K shares, representing a decrease of 40.83%. The firm decreased its portfolio allocation in EVBN by 51.34% over the last quarter.
Evans Bancorp Background Information
(This description is provided by the company.)
Evans Bancorp, Inc. is a financial holding company and the parent company of Evans Bank, N.A., a commercial bank with $2.1 billion in assets and $1.8 billion in deposits at September 30, 2020. Evans is a full-service community bank with 20 financial centers providing comprehensive financial services to consumer, business and municipal customers throughout Western New York. Evans Insurance Agency, a wholly owned subsidiary, provides life insurance, employee benefits, and property and casualty insurance through ten offices in the Western New York region. Evans Investment Services provides non-deposit investment products, such as annuities and mutual funds.
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