BlackRock Virginia Municipal Bond Trust (BHV)

FairStock Score: 54/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at this as a closed-end municipal bond fund, not an operating business. It invests in investment-grade municipal bonds exempt from federal and Virginia personal income taxes, which is a real tax advantage. But the numbers as of the 2026-10-13 close are not comforting. The market cap is only $17.5 million, the price is $11.45, and the FairStock P/B calculation is 0.99, so it trades near book value. The FairStock P/E is -572.50, ROE is -0.14%, and ROCE is 1.89%, showing little earning power. Debt/equity is 0.63, so leverage is meaningful. The 4.37% dividend yield is the main attraction, but with negative earnings I would want evidence it is covered. The Piotroski F-Score of 1/9 and Altman Z-Score of 0.72 are red flags. The FairStock Score is 54/100, mediocre, and the Lynch category is none because only 0 years of filed results exist, where 3 are needed. The fund is managed by BlackRock Advisors, which is reputable, and beta of 0.98 suggests market-like volatility in the supplied data. The 52-week range is $10.04 to $15.15, so the price is nearer the low. Its moat is thin: BlackRock's brand and the Virginia tax-exempt niche may help, but there is no evidence of pricing power, and scale is tiny. No revenue or profit growth figures are provided. As a Graham-style investor, I see no clear margin of safety: roughly book-value pricing, weak financial ratios, and no growth data to lean on. Not a business I would call strong; cheapness is not proven.

In plain English: This is a small closed-end fund that owns mostly investment-grade Virginia municipal bonds, aiming to pay income free from federal and Virginia personal income taxes. Its recent numbers look weak: it has been losing money, uses borrowing, and gets low marks for financial health. At $11.45, the price is roughly equal to its accounting value and it pays a 4.37% income stream, so it looks fair rather than clearly cheap.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer