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

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Zacks Investment Research upgraded shares of Bay Banks of Virginia (OTCMKTS:BAYK) from a hold rating to a buy rating in a report released 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. “

Shares of Bay Banks of Virginia stock opened at $8.05 on Tuesday. The company’s fifty day simple moving average is $8.09 and its two-hundred day simple moving average is $8.01. The company has a market cap of $107.31 million, a P/E ratio of 21.18 and a beta of 0.48. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.89. Bay Banks of Virginia has a 12-month low of $7.01 and a 12-month high of $9.95.

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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