The Manufacturers Life Insurance Company Increases Position in CrossFirst Bankshares, Inc. (NASDAQ:CFB)

The Manufacturers Life Insurance Company boosted its holdings in shares of CrossFirst Bankshares, Inc. (NASDAQ:CFB) by 7.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,687 shares of the company’s stock after acquiring an additional 1,157 shares during the period. The Manufacturers Life Insurance Company’s holdings in CrossFirst Bankshares were worth $248,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. ClariVest Asset Management LLC purchased a new stake in CrossFirst Bankshares during the 1st quarter valued at about $1,129,000. FAS Wealth Partners Inc. purchased a new stake in CrossFirst Bankshares during the 2nd quarter valued at about $177,000. Allspring Global Investments Holdings LLC grew its stake in CrossFirst Bankshares by 9.2% during the 1st 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 in the last quarter. Empowered Funds LLC grew its stake in CrossFirst Bankshares by 8.2% during the 1st quarter. Empowered Funds LLC now owns 161,607 shares of the company’s stock valued at $2,237,000 after acquiring an additional 12,217 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in CrossFirst Bankshares by 15.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 68,350 shares of the company’s stock valued at $946,000 after acquiring an additional 9,262 shares in the last quarter. Hedge funds and other institutional investors own 56.29% of the company’s stock.

CrossFirst Bankshares Stock Performance

Shares of CFB stock opened at $16.66 on Friday. The firm’s 50 day moving average price is $16.85 and its 200-day moving average price is $15.02. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.96 and a current ratio of 0.96. CrossFirst Bankshares, Inc. has a one year low of $10.05 and a one year high of $19.22. The firm has a market cap of $821.22 million, a P/E ratio of 12.07 and a beta of 1.03.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CFB shares. Janney Montgomery Scott upgraded shares of CrossFirst Bankshares from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Tuesday, September 10th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $20.00 target price on shares of CrossFirst Bankshares in a report on Wednesday, August 28th. Finally, Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of CrossFirst Bankshares in a report on Tuesday, July 16th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average 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.