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

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

Insider Activity at CrossFirst Bankshares

In other CrossFirst Bankshares news, Director George Bruce acquired 100 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $1,000.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now directly owns 100 shares of the company’s stock, valued at $100,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CFB. Geode Capital Management LLC raised its holdings in CrossFirst Bankshares by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,079,471 shares of the company’s stock valued at $18,019,000 after acquiring an additional 41,590 shares in the last quarter. Barclays PLC lifted its stake in shares of CrossFirst Bankshares by 73.6% in the 3rd quarter. Barclays PLC now owns 116,557 shares of the company’s stock valued at $1,947,000 after purchasing an additional 49,406 shares during the period. XTX Topco Ltd acquired a new stake in CrossFirst Bankshares during the 3rd quarter worth $992,000. National Bank of Canada FI bought a new position in CrossFirst Bankshares during the 3rd quarter worth about $25,000. Finally, EP Wealth Advisors LLC bought a new position in shares of CrossFirst Bankshares in the 3rd quarter valued at about $211,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

CrossFirst Bankshares Price Performance

Shares of CFB traded down $0.04 during midday trading on Monday, reaching $17.09. The stock had a trading volume of 243,796 shares, compared to its average volume of 247,614. CrossFirst Bankshares has a 52 week low of $10.64 and a 52 week high of $19.22. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.97. The firm’s 50 day moving average price is $16.56 and its 200-day moving average price is $15.64. The company has a market capitalization of $842.71 million, a P/E ratio of 11.63 and a beta of 1.04.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Janney Montgomery Scott raised CrossFirst Bankshares from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Tuesday, September 10th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $20.00 target price on shares of CrossFirst Bankshares in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $18.50.

About CrossFirst Bankshares

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.