Trading Day: Local SEC filings for 11.12.20

Correction: An earlier version of this post incorrectly stated the third quarter 2019 net income for Bay Banks of Virginia. The correct figure for that period is $1.8 million. This post has been updated with the correct number.

Altria (MO)

The tobacco giant filed its third quarter earnings report with $7.1 billion in net revenues in the third quarter 2020. The company reported $6.8 billion in net revenues during the same period last year. Click here for the full 10-Q.

Apple Hospitality REIT (APLE)

The hotel-focused real estate investment trust filed its third quarter earnings, reporting a net loss of $40.9 million in the third quarter 2020. Click here for the full 10-Q.

Atlantic Union Bankshares (AUB)

The parent of Atlantic Union Bank posted its third quarter earnings, reporting net income of $58.3 million. That’s up from $53.2 million in the same period last year. Click here for the full 10-Q.

The bank posted an investor slideshow here.

Loreen Lagatta, an executive vice president, sold 2,800 shares at $29.89 apiece for a total of nearly $84,000.

Bay Banks of Virginia (BAYK)

The parent of Virginia Commonwealth Bank, which is in the midst of a merger with Blue Ridge Bankshares in Charlottesville, reported its third quarter earnings, with net income of $1.5 million. That’s compared to $1.8 million in the same period last year. Click here for the third quarter 10-Q.

Brink’s (BCO)

The armored car giant filed its third quarter earnings, reporting profits of $76 million and revenues of $971 million for the third quarter 2020. That’s compared to profits of $53 million and revenues of $928 million during the same period last year. Click here for the 10-Q.

The company named Michael Sweeney as vice president and controller effective Nov. 2. He succeeded Thomas R. Colan. Sweeney, 55, was previously senior vice president and chief accounting officer for Aimbridge Hospitality and Interstate Hotels.

C&F Financial (CFFI)

The parent of C&F Bank released its third quarter earnings, reporting net income of $6.9 million, up from $4.9 million a year ago. Click here for the 10-Q.

Community Bankers Trust (ESXB)

The parent of Essex Bank announced the addition of Ira C. Harris to its board of directors. Harris has been a member of the faculty of the McIntire School of Commerce at the University of Virginia since 2003. He’s a CPA and worked as an auditor with Deloitte and at MCI Telecommunications. He and his family also own Store-Tel Storage, a self-storage business in Tappahannock. Harris is a graduate of Howard University, and he holds a MBA from the University of Pennsylvania and a Ph.D. from The University of Texas at Austin. Harris previously served on the board of Eastern Virginia Bankshares until it was acquired by Southern National Bancorp of Virginia, Inc. in 2017.

The bank also reported its third quarter earnings, with net income was $4.5 million. That’s compared with net income of $4.6 million in the same period last year. Click here for the 10-Q.

Director S. Waite Rawls III acquired 10,000 shares at $5.89 per share for a total of $58,900. Rawls still owns more than 55,000 shares.

Dominion (D)

The power utility filed its quarterly report for the three months ended Sept. 30. The company reported operating revenue of $3.6 billion in the quarter and operating expenses of $3.6 billion. That’s compared with operating revenue of $3.8 billion and operating expenses of $2.7 billion during the same period last year. Click here for the 10-Q.

Dominion announced it closed on the sale of the majority of its gas transmission and storage assets to Berkshire Hathaway Energy Company on Nov. 2. Berkshire Hathaway paid $2.7 billion cash in the deal, which included the transfer to Berkshire Hathaway of $5.3 billion in debt tied to the assets. The sale of Dominion’s interest in Dominion Energy Questar Pipeline, LLC and related entities to Berkshire Hathaway is slated to wrap up early next year.

Executive Chairman Thomas Farrell sold 50,000 shares at about $81 per share for a total of about $4.1 million. He still directly owns 951,144 shares of common stock.

John Harris notified Dominion’s board of directors of his retirement from the board effective Nov. 5. Robert H. Spilman Jr was elected the board’s lead director to succeed Harris.

Dynex Capital (DX)

The mortgage REIT filed its earnings report for the quarter that ended Sept. 30. The company reported $40.7 million in net income for the quarter, compared with a loss of $36.6 million for the same period last year. Click here for the 10-Q.

Genworth Financial (GNW)

The insurer posted its 2020 proxy statement ahead of a planned shareholders meeting while it awaits the closure of its deal to be acquired by a Chinese firm. The proxy includes data on compensation packages paid to its top executives in 2019. Among them, President and CEO Thomas McInerney received $9.1 million in total compensation for the year. That included a $1 million base salary, $5.1 million in stock awards, $2.5 million in incentive pay, and other perks. Click here to view the summary compensation table.

Hamilton Beach Brands (HBB)

The electrical products supplier filed its latest earnings, reporting a net loss of $2 million. That’s compared with a profit of $600,000 during the same period last year. Click here for the 10-Q.

Kinsale Capital Group (KNSL)

The Henrico-based insurer posted its third quarter earnings, citing net income of net income of $14.9 million, compared to $13.0 million in the same period last year. Click here for the 10-Q.

Director Robert Lippincott III exercised options for 13,500 shares at $16 apiece. He then sold them at market price for $206 per share for a total sale of $2.7 million. He still owns more than 10,000 shares.

Director James Ritchie exercised options for 4,000 shares at $16 apiece. He then sold 8,800 shares for $210 per share for a total $1.8 million. He still owns more than 16,000 shares.

Markel (MKL)

Director Stewart M. Kasen sold 997 shares for $960 per share for a total of $957,120. Kasen directly owns 1,879 shares of common stock.

New Market (NEU)

The petroleum-focused holding company filed its third quarter earnings, reporting net income of $95.8 million, compared to $67.8 million for the same period last year. Click here for the 10-Q.

Owens & Minor (OMI)

The healthcare logistics company filed its third quarter earnings, reporting net revenue of $2.2 billion. The company reported a net revenue of $2.3 billion during the same period last year. Click here for the 10-Q.

Performance Food Group (PFGC)

The Goochland-based foods distributor filed its latest earnings, with $7 billion in net sales and $779.7 million in operating expenses for the three-month period that ended Sept. 26. The company reported $6.2 billion in net sales and $647.9 million in operating expenses for the same period last year. Click here for its 10-Q.

Tredegar (TG)

The plastic and aluminum parts manufacturer filed its third quarter earnings, with a net loss of $65.2 million and gross sales of $184.4 million in the third quarter 2020. That’s compared to a profit of $17.1 million and gross sales of $206 million during the same period last year. Click here for the 10-Q.

Universal Corp. (UVV)

The tobacco company filed its earnings report for its second quarter, which ended Sept. 30. The company reported a net income of $7.5 million, down from $28.1 million in the same period last year. Click here for the 10-Q.

Village Bank and Trust Financial (VBFC)

The Midlothian-based bank posted its third quarter earnings, citing net income of $2.26 million. That’s compared to $1.72 million a year ago. Click here for the full report.

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