Trading Day: Local SEC filings for 8.3.17

Altria (MO)

The tobacco giant reported its second quarter earnings for 2017. Net revenues totaled $6.66 billion, up from $6.52 billion the same three months of 2016. Profits totaled $1.99 billion, up from $1.65 billion last year. Year-to-date revenues totaled $12.74 billion, up from $12.58 billion the first half of last year. Year-to-date profits totaled $3.39 billion, up from $2.87 billion last year.

Brink’s (BCO)

The armored car giant reported its second quarter earnings for 2017. Revenues totaled $805.9 million, up from $739.5 million the same three months of last year.  Profits totaled $13.5 million, up from $3.4 million last year. Year-to-date revenues totaled $1.59 billion, up from $1.46 billion the first half of 2016. Year-to-date profits totaled $54 million, up from $2.9 million last year.

Bay Banks of Virginia (BAYK)

The parent of Virginia Commonwealth Bank filed its first earnings report since its combination with Bank of Lancaster. It reported net income of $557,000, a figure effected by merger related expenses. Its total assets are now $867.4 million, compared with Lancaster’s $468.33 million prior to the merger. Loans totaled $649.6 million, of which $212.6 million were acquired in the merger. Deposits totaled $689 million, including $267.9 million that came over with the merger. See the full earnings release here.

CarMax (KMX)

CFO Thomas Reedy Jr. exercised options for 8,583 shares of common stock, selling them at $66.87 per share for a total of $573,945.

Senior VP Shamim Mohammad exercised options for 13,938 shares of common stock, selling 12,213 at $66.07 per share and 1,725 at $66.16 per share for a total of $921,038.

Dominion (D)

The power utility reported its second quarter earnings for 2017. Revenues totaled $2.81 billion, up from $2.59 billion the same three months of 2016. Profits totaled $390 million, up from $452 million last year. Year-to-date revenues totaled $6.19 billion, up from $5.51 billion the first half of 2016. Year-to-date profits totaled $1.09 billion, up from $993 million last year.

Dynex Capital (DX)

The mortgage REIT reported its second quarter earnings for 2017. Assets totaled $2.86 billion, down from $3.21 billion as of Dec. 31, 2016. Profits for the quarter were a loss of $7.43 million, compared to a loss the same three months of last year of $3.23 million. Year-to-date profits totaled $1.61 million, compared to a loss last year of $40.66 million.

Genworth Financial (GNW)

The insurance company reported its second quarter earnings and announced that the deadline for its deal to be acquired by China Oceanwide Holdings Group has been extended to Nov. 30. The deadline had been Aug. 31. The company said the delay is caused by regulatory approvals needed to close the deal.

Its net income for the quarter was $202 million, up from $172 million in the same period last year. Revenue for the quarter was $2.22 billion, which was largely flat compared to second quarter 2016. The company released an earnings slideshow for its second quarter results, which can be viewed here.

New Market (NEU)

The petroleum-focused holding company reported its second quarter earnings for 2017. Revenues totaled $544.1 million, up from $516.1 million the same three months of 2016. Profits totaled $62.7 million, down from $64.3 million last year. Year-to-date revenues totaled $1.08 billion, up from $1.02 billion the first half of last year. Year-to-date profits totaled $126.6 million, up from $126.3 million last year.

Owens & Minor (OMI)

The healthcare logistics company reported its second quarter earnings for 2017. Revenues totaled $2.26 billion, down from $2.48 billion the same three months of 2016. Profits totaled $20.1 million, down from $27.7 million last year. Year-to-date revenues totaled $4.59 billion, down from $4.93 billion the first half of last year. Year-to-date profits totaled $38.9 million, down from $51.8 million lsat year.

Performance Food Group (PFGC)

Kimberly Grant was appointed to the board of directors. The 46-year-old has served the past three years as CEO of hospitality management company ThinkFoodGroup.

Tredegar (TG)

The plastic and aluminum parts manufacturer reported its second quarter earnings for 2017. Revenues totaled $247.3 million, up from $208.5 million the same three months of 2016. Profits totaled $44.2 million, up from $3.4 million last year. Year-to-date revenues totaled $468.3 million, up from $415.8 million the first half of last year. Year-to-date profits totaled $47.9 million, up from $10.6 million last year.

Village Bank and Trust Financial (VBFC)

The parent of Village Bank reported its second quarter earnings. Net income was $123,000, down from $476,000 in the same period last year. The company said the results were affected by a “very full and exciting slate of strategic initiatives” being implemented by its mortgage unit, including hiring six new loan officers and a production manager. Total assets grew to $462.25 million, up from $419 million. Loans grew to $337.12 million, up from $320 million. Deposits reached $405.39 million, up from $367.62 million. See the full earnings report here.

WestRock (WRK)

Director John Luke Jr. exercised options for 10,343 shares of common stock, selling them at $57.15 per share for a total of $591,102.

Xenith Bankshares (XBKS)

As it waits to be acquired by Union Bankshares, the parent of Xenith Bank reported its second quarter earnings. Net income was $6.26 million, compared to $2.62 million. Those results included $.1.71 million in expenses related to the Union deal. Total assets were $3.17 billion, down from $3.26 billion at the end of 2016. Loans at quarter’s end were $2.35 billion, down from $2.44 billion at year’s end. Deposits grew to $2.63 billion from $2.57 billion. Read the earnings release here.

Several of Xenith’s top executives each converted shares of preferred stock into common stock. Among them, CEO Gaylon Layfield converted 3,900 restricted shares, which converts into the right to receive that same amount in common stock.

Linda Majikes, chief human resources officer, exercised options for 2,200 shares with an exercise price of approximately $20,900. She then sold the shares off at $28.25 per share for a total of $68,150.

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