Bay Banks of Virginia Inc (BAYK) Cut to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Bay Banks of Virginia Inc (NASDAQ:BAYK) from a buy rating to a hold rating in a research report released on Monday 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. “
Shares of Bay Banks of Virginia (NASDAQ:BAYK) opened at 9.25 on Monday. Bay Banks of Virginia has a 12-month low of $6.05 and a 12-month high of $9.65. The company has a 50 day moving average of $9.44 and a 200-day moving average of $9.07. The firm has a market cap of $86.95 million and a PE ratio of 30.63.
Bay Banks of Virginia (NASDAQ:BAYK) last released its quarterly earnings data on Wednesday, July 26th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.12 by $0.06. The business had revenue of $8.59 million during the quarter, compared to analyst estimates of $8.40 million. Bay Banks of Virginia had a net margin of 6.49% and a return on equity of 3.54%. Equities research analysts forecast that Bay Banks of Virginia will post $0.55 EPS for the current fiscal year.
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About Bay Banks of Virginia
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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