BidaskClub upgraded shares of Xenith Bankshares, Inc. (NASDAQ:XBKS) from a strong sell rating to a sell rating in a report published on Wednesday.
Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reissued a buy rating and set a $28.00 price objective on shares of Xenith Bankshares in a research note on Thursday, April 27th. Zacks Investment Research raised shares of Xenith Bankshares from a sell rating to a hold rating in a research note on Thursday, June 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $28.00.
Shares of Xenith Bankshares (NASDAQ:XBKS) traded down 2.16% during trading on Wednesday, reaching $28.50. 21,545 shares of the company traded hands. Xenith Bankshares has a 12-month low of $2.03 and a 12-month high of $33.30. The firm’s 50 day moving average is $29.81 and its 200-day moving average is $28.02.
Xenith Bankshares (NASDAQ:XBKS) last posted its quarterly earnings data on Wednesday, July 26th. The bank reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. Xenith Bankshares had a net margin of 50.54% and a return on equity of 14.16%. The business had revenue of $28.53 million for the quarter, compared to analyst estimates of $27.86 million. On average, equities analysts anticipate that Xenith Bankshares will post $0.32 EPS for the current fiscal year.
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In other news, SVP Linda Majikes sold 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $28.25, for a total value of $62,150.00. Following the transaction, the senior vice president now owns 7,592 shares in the company, valued at $214,474. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 31.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. American International Group Inc. increased its position in shares of Xenith Bankshares by 126.3% in the first quarter. American International Group Inc. now owns 4,536 shares of the bank’s stock valued at $115,000 after buying an additional 2,532 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Xenith Bankshares during the first quarter valued at about $195,000. Ameriprise Financial Inc. purchased a new position in shares of Xenith Bankshares during the second quarter valued at about $223,000. Wells Fargo & Company MN increased its position in shares of Xenith Bankshares by 1.4% in the second quarter. Wells Fargo & Company MN now owns 7,371 shares of the bank’s stock valued at $229,000 after buying an additional 102 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Xenith Bankshares during the first quarter valued at about $244,000. Hedge funds and other institutional investors own 56.42% of the company’s stock.
About Xenith Bankshares
Xenith Bankshares, Inc, formerly Hampton Roads Bankshares, Inc, is a bank holding company for Xenith Bank. Xenith Bank is a commercial bank specifically targeting the banking needs of middle market and small businesses, local real estate developers and investors, and retail banking clients. Xenith Bank’s regional area of operations spans from Baltimore, Maryland, to Raleigh and eastern North Carolina, complementing its presence in greater Washington, DC, greater Richmond, Virginia, and greater Hampton Roads, Virginia.
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