Vanguard Group Inc. Reduces Position in Xenith Bankshares, Inc. (XBKS)

Vanguard Group Inc. lessened its holdings in shares of Xenith Bankshares, Inc. (NASDAQ:XBKS) by 4.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 391,745 shares of the bank’s stock after selling 18,741 shares during the period. Vanguard Group Inc.’s holdings in Xenith Bankshares were worth $12,168,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Xenith Bankshares by 7.2% during the 1st quarter. Geode Capital Management LLC now owns 73,644 shares of the bank’s stock valued at $1,868,000 after buying an additional 4,920 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Xenith Bankshares by 163.0% during the 2nd quarter. Alliancebernstein L.P. now owns 41,600 shares of the bank’s stock valued at $1,292,000 after purchasing an additional 25,783 shares during the period. Dimensional Fund Advisors LP boosted its stake in Xenith Bankshares by 82.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 99,489 shares of the bank’s stock valued at $2,524,000 after purchasing an additional 44,922 shares during the period. Marshall Wace North America L.P. acquired a new position in Xenith Bankshares during the 2nd quarter valued at about $1,338,000. Finally, Kassirer Asset Management Corp acquired a new position in Xenith Bankshares during the 2nd quarter valued at about $491,000. 58.66% of the stock is owned by institutional investors and hedge funds.

A number of research firms have issued reports on XBKS. BidaskClub raised shares of Xenith Bankshares from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 9th. ValuEngine raised shares of Xenith Bankshares from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 30th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $28.00.

In other news, EVP Wellington W. Cottrell III sold 4,217 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $32.96, for a total value of $138,992.32. Following the completion of the sale, the executive vice president now directly owns 35,546 shares of the company’s stock, valued at approximately $1,171,596.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 31.70% of the company’s stock.

Xenith Bankshares, Inc. (XBKS) traded down $0.16 during trading on Wednesday, reaching $35.07. 125,657 shares of the company’s stock were exchanged, compared to its average volume of 45,594. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 0.99. The firm has a market cap of $827.41, a price-to-earnings ratio of 31.82 and a beta of 1.01. Xenith Bankshares, Inc. has a 52-week low of $22.61 and a 52-week high of $36.44.

Xenith Bankshares (NASDAQ:XBKS) last posted its earnings results on Wednesday, October 25th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $29.40 million during the quarter. Xenith Bankshares had a net margin of 18.26% and a return on equity of 5.55%. research analysts anticipate that Xenith Bankshares, Inc. will post 1.11 earnings per share for the current year.

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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.

Institutional Ownership by Quarter for Xenith Bankshares (NASDAQ:XBKS)

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