Bank of the James Financial Group, Inc. is a holding company for Bank of the James, a provider of retail and commercial banking services. The company’s services include checking and saving accounts as well as various time deposits to individuals and organizations. Bank of the James also offers business, construction, real estate, consumer and mortgage loans as well as brokerage and investment services. The company was incorporated in 1998 and operates in the central Virginia, USA.
For the last quarter ended September 30, 2007 the company had revenue of $5.39 million which was 4.8% larger than previous quarter. The resulting net income for the third quarter was $581 thousand – a 16.7% increase from the previous period. The stockholder equity increased 3.6% to $23.8 million over the same time frame. The overall revenue uptrend is very strong. The company has $6.7 million in cash and is adequately financed for another half a year.
According to the latest announcement made by the company on January 25, 2008, their operating results for the 4th quarter of 2007 represented a highest net income in company’s history. The press release on this subject can be found here: http://www.snl.com/irweblinkx/file.aspx?IID=4090994&FID=5512217 . There is still no official SEC filing representing these figures however such an improvement should finally drive the company’s stock up again.
The Bank of the James Financial Group through their subsidiaries currently operates seven full service offices as well as mortgage and investment service offices. The company has plans to open additional branches during the next couple years.
The stock has been on a decline since the beginning of June 2007 despite improving performance of the company. Also currently the stock appears not to be very liquid as daily trading volumes are quite low. In our opinion the improving performance along with the stable financial position should finally affect the company’s share price to increase. Currently the biggest problem is the lack of investor interest in this stock. The price is rather volatile when the stock is traded thus making this a risky investment for a short-term traders.
For the last quarter ended September 30, 2007 the company had revenue of $5.39 million which was 4.8% larger than previous quarter. The resulting net income for the third quarter was $581 thousand – a 16.7% increase from the previous period. The stockholder equity increased 3.6% to $23.8 million over the same time frame. The overall revenue uptrend is very strong. The company has $6.7 million in cash and is adequately financed for another half a year.
According to the latest announcement made by the company on January 25, 2008, their operating results for the 4th quarter of 2007 represented a highest net income in company’s history. The press release on this subject can be found here: http://www.snl.com/irweblinkx/file.aspx?IID=4090994&FID=5512217 . There is still no official SEC filing representing these figures however such an improvement should finally drive the company’s stock up again.
The Bank of the James Financial Group through their subsidiaries currently operates seven full service offices as well as mortgage and investment service offices. The company has plans to open additional branches during the next couple years.
The stock has been on a decline since the beginning of June 2007 despite improving performance of the company. Also currently the stock appears not to be very liquid as daily trading volumes are quite low. In our opinion the improving performance along with the stable financial position should finally affect the company’s share price to increase. Currently the biggest problem is the lack of investor interest in this stock. The price is rather volatile when the stock is traded thus making this a risky investment for a short-term traders.
