Zacks Investment Research upgraded shares of Bay Banks of Virginia Inc (NASDAQ:BAYK) from a hold rating to a buy rating in a research report released on Monday. Zacks Investment Research currently has $11.00 price target on the stock.
According to Zacks, “Bay Banks of Virginia, Inc. is a bank holding company headquartered in Kilmarnock, Virginia. The Company conducts substantially all of its operations through its subsidiaries, Bank of Lancaster (the Bank) and Bay Trust Company (the Trust Company). Bank of Lancaster provides individual and commercial customers with a full range of services, including commercial and consumer deposit accounts and loans, credit cards, automated teller machines and other traditional banking services. In addition, the Bank offers investment services, including financial planning, securities brokerage, and insurance products through Investment Advantage. Bay Trust provides management services for personal and corporate trusts, including estate planning, estate settlement and trust administration. Bay Trust also offers financial planning, investment services, management of IRAs and other investment accounts. “
Bay Banks of Virginia (NASDAQ BAYK) remained flat at $9.50 during mid-day trading on Monday. The company had a trading volume of 1,000 shares. Bay Banks of Virginia has a 52 week low of $6.05 and a 52 week high of $9.70. The firm has a market capitalization of $89.30 million and a P/E ratio of 31.46. The stock has a 50 day moving average of $9.46 and a 200 day moving average of $9.18.
Bay Banks of Virginia (NASDAQ:BAYK) last released its earnings results on Wednesday, July 26th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.06). The business had revenue of $8.59 million for the quarter, compared to analysts’ expectations of $8.40 million. Bay Banks of Virginia had a net margin of 6.49% and a return on equity of 3.54%. On average, equities research analysts predict that Bay Banks of Virginia will post $0.55 earnings per share for the current year.
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In other Bay Banks of Virginia news, VP Douglas F. Jenkins bought 5,405 shares of Bay Banks of Virginia stock in a transaction dated Thursday, August 31st. The stock was bought at an average cost of $9.25 per share, for a total transaction of $49,996.25. Following the purchase, the vice president now owns 27,694 shares in the company, valued at approximately $256,169.50. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Randal R. Greene bought 5,969 shares of Bay Banks of Virginia stock in a transaction dated Thursday, August 31st. The shares were acquired at an average price of $9.25 per share, with a total value of $55,213.25. Following the completion of the purchase, the chief executive officer now owns 47,482 shares in the company, valued at approximately $439,208.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 12,915 shares of company stock valued at $119,464.
Bay Banks of Virginia Company Profile
Bay Banks of Virginia, Inc is a bank holding company that conducts its operations through its subsidiaries, Virginia Commonwealth Bank and Bay Trust Company. The Bank is a state-chartered bank and a member of the Federal Reserve System. It serves businesses, professionals and consumers with a range of financial services, including retail and commercial banking, investment services and mortgage banking.
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