A number of research firms have changed their ratings and price targets for Bay Banks of Virginia (NASDAQ: BAYK):

  • 9/5/2017 – Bay Banks of Virginia was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $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. “
  • 9/4/2017 – Bay Banks of Virginia was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 8/30/2017 – Bay Banks of Virginia was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $10.00 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. “
  • 8/28/2017 – Bay Banks of Virginia was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 8/22/2017 – Bay Banks of Virginia was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $10.00 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. “
  • 7/14/2017 – Bay Banks of Virginia was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $10.00 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. “

Shares of Bay Banks of Virginia Inc (NASDAQ BAYK) opened at 9.65 on Friday. The company has a market cap of $90.71 million and a P/E ratio of 31.95. The company’s 50 day moving average is $9.46 and its 200 day moving average is $9.15. Bay Banks of Virginia Inc has a 12 month low of $6.05 and a 12 month high of $9.70.

Bay Banks of Virginia (NASDAQ:BAYK) last posted its earnings results on Wednesday, July 26th. The company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.06. Bay Banks of Virginia had a net margin of 6.49% and a return on equity of 3.54%. The firm had revenue of $8.59 million for the quarter, compared to analysts’ expectations of $8.40 million. On average, equities research analysts predict that Bay Banks of Virginia Inc will post $0.55 EPS for the current fiscal year.

In other news, VP Douglas F. Jenkins bought 5,405 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was bought at an average price of $9.25 per share, with a total value of $49,996.25. Following the completion of the transaction, the vice president now directly owns 27,694 shares of the company’s stock, valued at approximately $256,169.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Randal R. Greene bought 5,969 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were purchased at an average cost of $9.25 per share, with a total value of $55,213.25. Following the transaction, the chief executive officer now directly owns 47,482 shares of the company’s stock, valued at $439,208.50. The disclosure for this purchase can be found here. Insiders have purchased 12,915 shares of company stock valued at $119,464 in the last three months.

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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