Short Interest in CrossFirst Bankshares, Inc. (NASDAQ:CFB) Decreases By 8.0%

by · The Cerbat Gem

CrossFirst Bankshares, Inc. (NASDAQ:CFB – Get Free Report) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 406,000 shares, a decline of 8.0% from the September 30th total of 441,100 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average daily volume of 324,500 shares, the short-interest ratio is presently 1.3 days.

CrossFirst Bankshares Trading Down 2.9 %

NASDAQ:CFB traded down $0.47 during mid-day trading on Thursday, reaching $15.70. 198,427 shares of the company’s stock traded hands, compared to its average volume of 245,589. The company has a 50 day moving average price of $16.69 and a 200-day moving average price of $15.21. The firm has a market capitalization of $773.81 million, a price-to-earnings ratio of 10.68 and a beta of 1.03. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.96 and a quick ratio of 0.96. CrossFirst Bankshares has a 12-month low of $10.39 and a 12-month high of $19.22.

Hedge Funds Weigh In On CrossFirst Bankshares

Several large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in CrossFirst Bankshares by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,828 shares of the company’s stock valued at $178,000 after acquiring an additional 1,082 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of CrossFirst Bankshares by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,687 shares of the company’s stock valued at $248,000 after purchasing an additional 1,157 shares during the last quarter. Rhumbline Advisers raised its stake in shares of CrossFirst Bankshares by 2.6% in the second quarter. Rhumbline Advisers now owns 74,214 shares of the company’s stock valued at $1,040,000 after acquiring an additional 1,895 shares during the period. Price T Rowe Associates Inc. MD lifted 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 last quarter. Finally, ClariVest Asset Management LLC boosted its stake in shares of CrossFirst Bankshares by 2.5% during the second quarter. ClariVest Asset Management LLC now owns 83,670 shares of the company’s stock valued at $1,173,000 after purchasing an additional 2,073 shares during the period. 56.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CFB. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $20.00 price objective on shares of CrossFirst Bankshares in a research report on Wednesday, August 28th. 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 report on Tuesday, September 10th. Finally, Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of CrossFirst Bankshares in a research report on Tuesday, July 16th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CrossFirst Bankshares currently has a consensus rating of “Buy” and a consensus target price of $18.50.

Get Our Latest Stock Analysis on CrossFirst Bankshares

CrossFirst Bankshares Company Profile

(Get Free Report)

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.

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