ValuEngine upgraded shares of Xenith Bankshares, Inc. (NASDAQ:XBKS) from a buy rating to a strong-buy rating in a research note published on Saturday.

Several other equities analysts have also recently commented on XBKS. BidaskClub upgraded shares of Xenith Bankshares from a strong sell rating to a sell rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Xenith Bankshares from a sell rating to a hold rating in a report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $28.00.

Xenith Bankshares (NASDAQ XBKS) opened at 32.58 on Friday. The firm’s 50-day moving average price is $29.60 and its 200-day moving average price is $28.75. Xenith Bankshares has a 12-month low of $21.70 and a 12-month high of $33.30.

Xenith Bankshares (NASDAQ:XBKS) last posted its quarterly earnings data on Wednesday, July 26th. The bank reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. The company had revenue of $28.53 million during the quarter, compared to analysts’ expectations of $27.86 million. Xenith Bankshares had a return on equity of 14.07% and a net margin of 50.54%. Analysts predict that Xenith Bankshares will post $0.32 earnings per share for the current year.

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In other Xenith Bankshares news, SVP Linda Majikes sold 2,200 shares of the company’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 completion of the transaction, the senior vice president now owns 7,592 shares of the company’s stock, valued at approximately $214,474. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ronald E. Davis purchased 3,190 shares of the business’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $28.70 per share, with a total value of $91,553.00. Following the acquisition, the executive vice president now owns 19,562 shares in the company, valued at $561,429.40. The disclosure for this purchase can be found here. Insiders own 31.70% of the company’s stock.

Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in shares of Xenith Bankshares by 12.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 369,122 shares of the bank’s stock worth $11,465,000 after purchasing an additional 41,697 shares in the last quarter. Bluefin Trading LLC bought a new stake in shares of Xenith Bankshares during the second quarter valued at approximately $304,000. State Street Corp raised its stake in shares of Xenith Bankshares by 15.4% in the second quarter. State Street Corp now owns 121,277 shares of the bank’s stock valued at $3,769,000 after purchasing an additional 16,195 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Xenith Bankshares by 97.5% in the second quarter. Stifel Financial Corp now owns 27,708 shares of the bank’s stock valued at $860,000 after purchasing an additional 13,682 shares in the last quarter. Finally, Banc Funds Co. LLC raised its stake in shares of Xenith Bankshares by 7.6% in the second quarter. Banc Funds Co. LLC now owns 327,606 shares of the bank’s stock valued at $10,175,000 after purchasing an additional 23,000 shares in the last quarter. 59.86% of the stock is currently owned by institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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