Xenith Bankshares, Inc. (XBKS) Raised to Strong-Buy at ValuEngine
Xenith Bankshares, Inc. (NASDAQ:XBKS) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.
Several other brokerages also recently weighed in on XBKS. Zacks Investment Research raised Xenith Bankshares from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. BidaskClub downgraded Xenith Bankshares from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Xenith Bankshares has a consensus rating of “Hold” and a consensus target price of $28.00.
Xenith Bankshares (NASDAQ XBKS) opened at 32.50 on Friday. Xenith Bankshares has a 12 month low of $21.20 and a 12 month high of $33.30. The firm has a 50-day moving average price of $28.91 and a 200-day moving average price of $28.31.
Xenith Bankshares (NASDAQ:XBKS) last issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.04. The business had revenue of $28.53 million during the quarter, compared to the consensus estimate of $27.86 million. Xenith Bankshares had a return on equity of 14.07% and a net margin of 50.54%. Equities analysts anticipate that Xenith Bankshares will post $0.32 earnings per share for the current year.
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In other Xenith Bankshares news, EVP Ronald E. Davis purchased 3,190 shares of the stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $28.70 per share, with a total value of $91,553.00. Following the completion of the acquisition, the executive vice president now owns 19,562 shares in the company, valued at $561,429.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, SVP Linda Majikes sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $28.25, for a total value of $62,150.00. Following the completion of the sale, the senior vice president now directly owns 7,592 shares of the company’s stock, valued at approximately $214,474. The disclosure for this sale can be found here. 31.70% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in XBKS. American International Group Inc. lifted its holdings in shares of Xenith Bankshares by 126.3% during the first quarter. American International Group Inc. now owns 4,536 shares of the bank’s stock worth $115,000 after purchasing an additional 2,532 shares during the period. Schroder Investment Management Group acquired a new stake in shares of Xenith Bankshares during the first quarter worth about $195,000. Ameriprise Financial Inc. acquired a new stake in shares of Xenith Bankshares during the second quarter worth about $223,000. Wells Fargo & Company MN lifted its holdings in shares of Xenith Bankshares by 1.4% during the second quarter. Wells Fargo & Company MN now owns 7,371 shares of the bank’s stock worth $229,000 after purchasing an additional 102 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of Xenith Bankshares during the first quarter worth about $244,000. 59.86% of the stock is owned by hedge funds and other institutional investors.
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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