American International Group Inc. increased its stake in Xenith Bankshares, Inc. (NASDAQ:XBKS) by 126.3% during the first quarter, Holdings Channel reports. The institutional investor owned 4,536 shares of the bank’s stock after buying an additional 2,532 shares during the period. American International Group Inc.’s holdings in Xenith Bankshares were worth $115,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in XBKS. First Trust Advisors LP bought a new stake in shares of Xenith Bankshares during the first quarter valued at approximately $1,083,000. Bank of New York Mellon Corp raised its stake in shares of Xenith Bankshares by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 27,149 shares of the bank’s stock valued at $688,000 after buying an additional 4,751 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Xenith Bankshares during the first quarter valued at approximately $244,000. Heritage Wealth Advisors raised its stake in shares of Xenith Bankshares by 49.2% in the first quarter. Heritage Wealth Advisors now owns 42,288 shares of the bank’s stock valued at $1,073,000 after buying an additional 13,937 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Xenith Bankshares by 17.0% in the first quarter. Stifel Financial Corp now owns 14,026 shares of the bank’s stock valued at $356,000 after buying an additional 2,037 shares in the last quarter. 56.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Xenith Bankshares, Inc. (XBKS) opened at 29.31 on Thursday. The stock has a 50 day moving average of $29.91 and a 200 day moving average of $27.99. Xenith Bankshares, Inc. has a 52-week low of $2.03 and a 52-week high of $33.30.
Xenith Bankshares (NASDAQ:XBKS) last released its earnings results on Wednesday, July 26th. The bank reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. Xenith Bankshares had a net margin of 50.54% and a return on equity of 14.16%. The company had revenue of $28.53 million for the quarter, compared to analysts’ expectations of $27.86 million. Analysts anticipate that Xenith Bankshares, Inc. will post $0.32 earnings per share for the current fiscal year.
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XBKS has been the topic of several research reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Xenith Bankshares in a research report on Thursday, April 27th. Zacks Investment Research lowered shares of Xenith Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Finally, BidaskClub lowered shares of Xenith Bankshares from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $28.00.
In other Xenith Bankshares news, SVP Linda Majikes sold 2,200 shares of the firm’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 transaction of $62,150.00. Following the sale, the senior vice president now owns 7,592 shares in the company, valued at approximately $214,474. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.70% of the stock is currently owned by company insiders.
Xenith Bankshares Company Profile
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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