Zacks Investment Research upgraded shares of Bay Banks of Virginia (OTCMKTS:BAYK) from a hold rating to a buy rating in a research note issued to investors on Monday morning, Zacks.com reports. They currently have $9.50 price objective on the financial services provider’s 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. “
Shares of Bay Banks of Virginia stock traded down $0.01 on Monday, hitting $8.40. 12,106 shares of the company were exchanged, compared to its average volume of 13,296. The stock has a market capitalization of $112.01 million, a price-to-earnings ratio of 22.11 and a beta of 0.48. The company has a 50-day moving average price of $8.25 and a 200 day moving average price of $8.11. Bay Banks of Virginia has a 1-year low of $7.01 and a 1-year high of $8.95. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.
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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