Short Interest in CrossFirst Bankshares, Inc. (NASDAQ:CFB) Drops By 13.2%

CrossFirst Bankshares, Inc. (NASDAQ:CFB) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 352,400 shares, a decline of 13.2% from the October 15th total of 406,000 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily volume of 310,900 shares, the days-to-cover ratio is currently 1.1 days.

Insider Activity at CrossFirst Bankshares

In other news, Director George Bruce purchased 100 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $1,000.00 per share, for a total transaction of $100,000.00. Following the transaction, the director now owns 100 shares of the company’s stock, valued at approximately $100,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 9.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CrossFirst Bankshares

A number of hedge funds have recently bought and sold shares of CFB. Allspring Global Investments Holdings LLC increased its holdings in CrossFirst Bankshares by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,828 shares of the company’s stock worth $178,000 after acquiring an additional 1,082 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in CrossFirst Bankshares by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,687 shares of the company’s stock worth $248,000 after purchasing an additional 1,157 shares during the period. National Bank of Canada FI bought a new position in shares of CrossFirst Bankshares during the 3rd quarter valued at approximately $25,000. Rhumbline Advisers raised its holdings in CrossFirst Bankshares by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 74,214 shares of the company’s stock valued at $1,040,000 after buying an additional 1,895 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in CrossFirst Bankshares by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,920 shares of the company’s stock worth $179,000 after purchasing an additional 1,985 shares during the period. Hedge funds and other institutional investors own 56.29% of the company’s stock.

CrossFirst Bankshares Stock Down 0.2 %

CrossFirst Bankshares stock traded down $0.04 on Monday, hitting $17.09. 243,796 shares of the stock traded hands, compared to its average volume of 247,614. CrossFirst Bankshares has a 1 year low of $10.64 and a 1 year high of $19.22. The business’s fifty day simple moving average is $16.56 and its 200 day simple moving average is $15.64. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm has a market cap of $842.71 million, a P/E ratio of 11.63 and a beta of 1.04.

Analysts Set New Price Targets

A number of brokerages have commented on CFB. Janney Montgomery Scott upgraded shares of CrossFirst Bankshares from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Tuesday, September 10th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $20.00 price target on shares of CrossFirst Bankshares in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $18.50.

CrossFirst Bankshares Company Profile

CrossFirst Bankshares, Inc operates as the bank holding company for CrossFirst Bank that provides various banking and financial services to businesses, business owners, professionals, and its personal networks. The company offers commercial and industrial loans, including enterprise value lending; commercial real estate loans; construction and development loans, such as home builder lending; residential real estate, multifamily real estate, energy, SBA, and consumer loans; and credit cards.