Zacks Investment Research upgraded shares of Bay Banks of Virginia (OTCMKTS:BAYK) from a hold rating to a buy rating in a research note released on Tuesday, Zacks.com reports. Zacks Investment Research currently has $9.00 target price 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 BAYK stock opened at $8.06 on Tuesday. Bay Banks of Virginia has a 52-week low of $7.01 and a 52-week high of $9.95. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.10 and a current ratio of 1.07. The firm has a market capitalization of $107.44 million, a P/E ratio of 21.21 and a beta of 0.48. The stock has a 50 day moving average price of $8.09 and a 200 day moving average price of $8.01.
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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