Zacks: Bay Banks of Virginia Inc (BAYK) Given Average Recommendation of “Strong Buy” by Brokerages
Shares of Bay Banks of Virginia Inc (NASDAQ:BAYK) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Analysts have set a 12 month consensus target price of $11.50 for the company and are predicting that the company will post $0.12 EPS for the current quarter, according to Zacks. Zacks has also given Bay Banks of Virginia an industry rank of 186 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research lowered shares of Bay Banks of Virginia from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th.
In other Bay Banks of Virginia news, CEO Randal R. Greene acquired 5,969 shares of the stock in a transaction dated Thursday, August 31st. The stock was 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Douglas F. Jenkins acquired 5,405 shares of the stock in a transaction dated Thursday, August 31st. The stock was acquired at an average cost of $9.25 per share, with a total value of $49,996.25. Following the purchase, the vice president now owns 27,694 shares of the company’s stock, valued at approximately $256,169.50. The disclosure for this purchase can be found here. In the last three months, insiders bought 12,915 shares of company stock valued at $119,464.
Bay Banks of Virginia (NASDAQ:BAYK) remained flat at $9.75 during midday trading on Tuesday. The firm has a market cap of $91.65 million and a P/E ratio of 32.28. Bay Banks of Virginia has a 52 week low of $6.41 and a 52 week high of $9.78. The firm has a 50 day moving average price of $9.56 and a 200 day moving average price of $9.33.
Bay Banks of Virginia (NASDAQ:BAYK) last posted its quarterly earnings data 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). Bay Banks of Virginia had a net margin of 6.49% and a return on equity of 3.54%. The business had revenue of $8.59 million during the quarter, compared to analysts’ expectations of $8.40 million. On average, equities analysts forecast that Bay Banks of Virginia will post $0.55 earnings per share for the current year.
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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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