Xenith Bankshares Inc. (NASDAQ:XBKS) is Attracting Smart Money


In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Xenith Bankshares Inc. (NASDAQ:XBKS) reported that Bankcap Equity Fund, Llc. has picked up 1,615,460 of common stock as of 2017-06-09.

The acquisition brings the aggregate amount owned by Bankcap Equity Fund, Llc. to a total of 1,615,460 representing less than 6.9% stake in the company.

For those not familiar with the company, 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, D.C., greater Richmond, Virginia, and greater Hampton Roads, Virginia. Its service and products consist primarily of taking deposits from, and making loans to, its target customers within its target markets. It offers other banking related specialized products and services to its customers, such as travelers’ checks, coin counters, wire services, online banking and safe deposit box services. Additionally, it offers commercial customers various cash management products, including remote deposit.

A glance at Xenith Bankshares Inc. (NASDAQ:XBKS)’s key stats reveals a current market capitalization of 776.46 Million based on 23.16 Million shares outstanding and a price at last close of $32.80 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-12-19, Burr picked up 300 at a purchase price of $29.66. This brings their total   holding to 300 as of the date of the filing.

On the sell side, the most recent transaction saw Paulette unload 1,555 shares at a sale price of $29.19. This brings their total holding to 6,269.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Xenith Bankshares Inc. (NASDAQ:XBKS) as things move forward to see if its progress aligns with these transactions.

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