Bay Banks of Virginia (OTCMKTS:BAYK) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Bay Banks of Virginia (OTCMKTS:BAYK) from a hold rating to a buy rating in a report published on Tuesday morning, Zacks.com reports. They currently have $9.00 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. “

BAYK stock opened at $8.05 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.10 and a quick ratio of 1.10. Bay Banks of Virginia has a one year low of $7.01 and a one year high of $9.95. The stock has a market cap of $107.31 million, a PE ratio of 21.18 and a beta of 0.48. The firm has a 50 day simple moving average of $8.09 and a two-hundred day simple moving average of $8.01.

Bay Banks of Virginia Company Profile

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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