Alliancebernstein L.P. Lowers Stake in Xenith Bankshares, Inc. (NASDAQ:XBKS)
Alliancebernstein L.P. reduced its stake in Xenith Bankshares, Inc. (NASDAQ:XBKS) by 15.2% during the first quarter, Holdings Channel reports. The firm owned 15,817 shares of the bank’s stock after selling 2,834 shares during the period. Alliancebernstein L.P.’s holdings in Xenith Bankshares were worth $401,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. First Trust Advisors LP acquired a new position in shares of Xenith Bankshares during the first quarter valued at $1,083,000. Heritage Wealth Advisors increased its position 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 during the period. Trexquant Investment LP acquired a new position in shares of Xenith Bankshares during the first quarter valued at $244,000. Schroder Investment Management Group acquired a new position in shares of Xenith Bankshares during the first quarter valued at $195,000. Finally, Bank of New York Mellon Corp increased its position 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 during the period. Institutional investors own 56.42% of the company’s stock.
Shares of Xenith Bankshares, Inc. (NASDAQ XBKS) traded down 0.27% during midday trading on Friday, hitting $29.05. 1,696 shares of the stock were exchanged. The firm has a 50 day moving average of $29.87 and a 200-day moving average of $28.00. Xenith Bankshares, Inc. has a one year low of $2.03 and a one year high of $33.30.
Xenith Bankshares (NASDAQ:XBKS) last released its earnings results on Wednesday, July 26th. The bank reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. The business had revenue of $28.53 million for the quarter, compared to analyst estimates of $27.86 million. Xenith Bankshares had a return on equity of 14.16% and a net margin of 50.54%. On average, 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. Zacks Investment Research downgraded shares of Xenith Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $28.00 price objective on shares of Xenith Bankshares in a research note on Thursday, April 27th. Finally, BidaskClub cut shares of Xenith Bankshares from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Xenith Bankshares presently has an average rating of “Hold” and an average price target of $28.00.
In other news, SVP Linda Majikes sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was 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 of the company’s stock, valued at $214,474. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 31.70% 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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