CrossFirst Bankshares, Inc. (NASDAQ:CFB) Sees Significant Drop in Short Interest

CrossFirst Bankshares, Inc. (NASDAQ:CFB) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 250,900 shares, a decrease of 5.2% from the November 30th total of 264,600 shares. Based on an average trading volume of 232,700 shares, the short-interest ratio is currently 1.1 days. Currently, 0.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott upgraded CrossFirst Bankshares from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a report on Tuesday, September 10th.

CrossFirst Bankshares Stock Performance

CFB stock opened at $15.15 on Thursday. The stock’s 50 day simple moving average is $16.68 and its 200 day simple moving average is $16.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. CrossFirst Bankshares has a 12-month low of $10.64 and a 12-month high of $19.22. The stock has a market capitalization of $747.12 million, a PE ratio of 10.31 and a beta of 1.06.

Insiders Place Their Bets

In other CrossFirst Bankshares news, Director George Bruce purchased 100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $1,000.00 per share, for a total transaction of $100,000.00. Following the purchase, the director now directly owns 100 shares in the company, valued at $100,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CFB. The Manufacturers Life Insurance Company boosted its holdings in CrossFirst Bankshares by 7.0% in the second 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 last quarter. National Bank of Canada FI bought a new position in shares of CrossFirst Bankshares during the 3rd quarter valued at $25,000. Rhumbline Advisers boosted its stake in shares of CrossFirst Bankshares by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 74,214 shares of the company’s stock worth $1,040,000 after buying an additional 1,895 shares during the last quarter. ClariVest Asset Management LLC grew its holdings in shares of CrossFirst Bankshares by 2.5% in the second quarter. ClariVest Asset Management LLC now owns 83,670 shares of the company’s stock worth $1,173,000 after acquiring an additional 2,073 shares during the period. Finally, Kavar Capital Partners Group LLC increased its position in CrossFirst Bankshares by 2.8% during the third quarter. Kavar Capital Partners Group LLC now owns 126,750 shares of the company’s stock valued at $2,115,000 after acquiring an additional 3,510 shares during the last quarter. 56.29% of the stock is owned by institutional investors.

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.