Evans Bancorp Intrinsic Value Calculation – Evans Bancorp Reports Record-Breaking Net Income of $5.8 Million in First Quarter 2023

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Evans Bancorp ($NYSEAM:EVBN), Inc., a community financial services company in Williamsville, New York, today announced record-breaking results for the first quarter of 2023 with a 22% net income growth to $5.8 million compared to the same period in 2022. The company’s strong results are largely attributed to the strategic investments made by Evans Bancorp in core banking activities, such as digital and mobile banking. The investments have enabled Evans Bancorp to remain competitive and continue to provide superior customer service.

The stellar performance in the first quarter of 2023 is a testament to the leadership of Evans Bancorp and its commitment to delivering long-term value for its customers and shareholders. With its positive outlook for the future, Evans Bancorp is poised to become one of the top community financial services providers in the United States.

Price History

On Friday, the stock of Evans Bancorp opened at $30.5 and closed at $30.8, up 0.2% from its previous closing price of $30.8. This was likely in response to the impressive income report, indicating investors remain confident in the company’s future performance. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Evans Bancorp. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Evans Bancorp. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Evans Bancorp. More…

Key Ratios Snapshot

Some of the financial key ratios for Evans Bancorp are shown below. More…

Analysis – Evans Bancorp Intrinsic Value Calculation

At GoodWhale, we recently conducted an analysis of the fundamentals of EVANS BANCORP. Our proprietary Valuation Line gave us an intrinsic value of EVANS BANCORP shares at around $36.4. However, the current share price of EVANS BANCORP is traded at $30.8, showing that it is undervalued by 15.4%. This presents investors with an opportunity to potentially make profits by purchasing EVANS BANCORP shares at a fair price. More…

Peers

The competition between Evans Bancorp Inc and its competitors is fierce. Each company is striving to be the best in the industry, and they are all working hard to improve their products and services. This competition is good for consumers, as it helps to keep prices down and quality up. It is also good for the economy, as it encourages innovation and creativity.

– Credit Agricole Alpes Provence ($LTS:0O3R)

Credit Agricole Alpes Provence has a market cap of 427.48M as of 2022. The company is a financial institution that provides banking and insurance services to individuals, businesses, and public entities in France. It operates through three segments: Retail Banking, Corporate and Investment Banking, and Insurance. The Retail Banking segment offers products and services to individuals, including savings and checking accounts, loans, credit cards, and investment products. The Corporate and Investment Banking segment provides financing, banking, and advisory services to corporate and institutional clients. The Insurance segment offers life, property and casualty, and health insurance products.

– Intercorp Financial Services Inc ($NYSE:IFS)

Intercorp Financial Services Inc is a Peruvian holding company engaged in the insurance, banking, and pension businesses. As of December 31, 2020, the Company had total assets of PEN 62.9 billion (US$17.5 billion), total loans of PEN 39.4 billion (US$10.9 billion), and total deposits of PEN 45.6 billion (US$12.6 billion).

– Renasant Corp ($NASDAQ:RNST)

Renasant Corp is a bank holding company that operates through its subsidiaries. The Company’s segments include Banking, Insurance, and Wealth Management. The Banking segment provides a range of banking and lending services to individuals and businesses through its network of over 150 banking offices located in Mississippi, Tennessee, Alabama, and Georgia. The Insurance segment offers property and casualty, life, and health insurance products through its insurance subsidiaries. The Wealth Management segment provides asset management, trust, and other fiduciary services through its subsidiary.

Summary

Evans Bancorp has recently reported a 22% net income growth to $5.8 million for the first quarter of 2023. This is likely to be a strong performance for investors, and could provide a good opportunity for new investors to jump in the market. The company’s financials seem promising, and further research into its balance sheets and revenue streams should be considered before investing. Overall, the first quarter of 2023 looks like it will be a great time to invest in Evans Bancorp.