Hennessy Advisors Inc. cut its stake in Xenith Bankshares, Inc. (NASDAQ:XBKS) by 21.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,000 shares of the bank’s stock after selling 50,000 shares during the period. Hennessy Advisors Inc.’s holdings in Xenith Bankshares were worth $5,591,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American International Group Inc. raised its stake in shares of Xenith Bankshares by 126.3% in the first quarter. American International Group Inc. now owns 4,536 shares of the bank’s stock worth $115,000 after acquiring an additional 2,532 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Xenith Bankshares by 1.4% in the second quarter. Wells Fargo & Company MN now owns 7,371 shares of the bank’s stock worth $229,000 after acquiring an additional 102 shares during the last quarter. Schroder Investment Management Group bought a new position in shares of Xenith Bankshares in the first quarter worth about $195,000. Trexquant Investment LP bought a new position in shares of Xenith Bankshares in the first quarter worth about $244,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Xenith Bankshares by 66.9% in the first quarter. Goldman Sachs Group Inc. now owns 12,663 shares of the bank’s stock worth $321,000 after acquiring an additional 5,076 shares during the last quarter. 59.86% of the stock is owned by institutional investors.

Shares of Xenith Bankshares, Inc. (XBKS) traded up 1.10% during trading on Friday, hitting $28.52. 29,313 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $28.73 and its 200-day moving average price is $28.21. Xenith Bankshares, Inc. has a 1-year low of $21.10 and a 1-year high of $33.30.

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

In related news, SVP Linda Majikes sold 2,200 shares of Xenith Bankshares 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 directly owns 7,592 shares in the company, valued at approximately $214,474. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP William Callaghan sold 1,540 shares of Xenith Bankshares stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $28.98, for a total transaction of $44,629.20. Following the sale, the vice president now owns 10,506 shares in the company, valued at $304,463.88. The disclosure for this sale can be found here. 31.70% of the stock is owned by company insiders.

A number of equities analysts have weighed in on XBKS shares. BidaskClub downgraded shares of Xenith Bankshares from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th. Zacks Investment Research raised shares of Xenith Bankshares from a “sell” rating to a “hold” rating in a research note on Friday, May 26th. Finally, ValuEngine downgraded shares of Xenith Bankshares from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Xenith Bankshares currently has an average rating of “Hold” and an average target price of $28.00.

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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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