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

Bay Banks of Virginia (OTCMKTS:BAYK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The brokerage presently has a $9.50 price target on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.10% from the company’s previous close.

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. “

OTCMKTS BAYK traded down $0.01 during trading hours on Monday, hitting $8.40. The company had a trading volume of 12,106 shares, compared to its average volume of 12,944. Bay Banks of Virginia has a fifty-two week low of $7.01 and a fifty-two week 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. The business has a fifty day simple moving average of $8.23 and a 200-day simple moving average of $8.11. The firm has a market cap of $112.14 million, a P/E ratio of 22.11 and a beta of 0.48.

About Bay Banks of Virginia

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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