Bay Banks of Virginia (BAYK) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Bay Banks of Virginia (OTCMKTS:BAYK) from a sell rating to a hold rating in a report released on Tuesday morning.

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. “

BAYK stock opened at $9.35 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. Bay Banks of Virginia has a twelve month low of $9.20 and a twelve month high of $10.85. The firm has a market cap of $125.11 million, a price-to-earnings ratio of 58.44 and a beta of 0.27.

Bay Banks of Virginia (OTCMKTS:BAYK) last posted its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.07). Bay Banks of Virginia had a net margin of 1.65% and a return on equity of 2.37%. The firm had revenue of $9.36 million for the quarter, compared to the consensus estimate of $9.62 million. As a group, analysts anticipate that Bay Banks of Virginia will post 0.39 EPS for the current fiscal year.

Bay Banks of Virginia Company Profile

Bay Banks of Virginia, Inc, through its subsidiaries, provides various banking products and services to businesses, professionals, and consumers in Virginia. The company accepts checking accounts, savings accounts, money market accounts, cash management accounts, certificates of deposit, and individual retirement accounts.

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