CrossFirst Bankshares, Inc. (NASDAQ:CFB) Sees Large Decline in Short Interest

CrossFirst Bankshares, Inc. (NASDAQ:CFB) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 324,800 shares, a decline of 7.8% from the October 31st total of 352,400 shares. Based on an average daily volume of 315,000 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.8% of the company’s stock are sold short.

CrossFirst Bankshares Price Performance

Shares of NASDAQ:CFB traded up $0.26 on Monday, reaching $17.57. 195,350 shares of the company traded hands, compared to its average volume of 244,616. The stock has a market capitalization of $866.46 million, a PE ratio of 11.80 and a beta of 1.04. 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 company’s 50 day moving average is $16.61 and its 200-day moving average is $15.92. CrossFirst Bankshares has a fifty-two week low of $10.64 and a fifty-two week high of $19.22.

Analyst Ratings Changes

Several equities research analysts have weighed in on CFB shares. Janney Montgomery Scott raised CrossFirst Bankshares from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research report 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.

Insiders Place Their Bets

In other news, Director George Bruce purchased 100 shares of the firm’s stock in a transaction that occurred on 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 purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.30% of the stock is owned by company insiders.

Institutional Trading of CrossFirst Bankshares

A number of hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. acquired a new stake in shares of CrossFirst Bankshares during the 3rd quarter valued at $482,000. FAS Wealth Partners Inc. bought a new stake in CrossFirst Bankshares in the second quarter worth approximately $177,000. Creative Planning increased its stake in shares of CrossFirst Bankshares by 2.6% during the 2nd quarter. Creative Planning now owns 264,498 shares of the company’s stock worth $3,708,000 after purchasing an additional 6,749 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of CrossFirst Bankshares during the 3rd quarter valued at $848,000. Finally, Comerica Bank bought a new position in shares of CrossFirst Bankshares during the 1st quarter valued at $181,000. Hedge funds and other institutional investors own 56.29% of the company’s stock.

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.