CrossFirst Bankshares, Inc. (NASDAQ:CFB) Short Interest Down 13.2% in October

CrossFirst Bankshares, Inc. (NASDAQ:CFB) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 352,400 shares, a decline of 13.2% from the October 15th total of 406,000 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 310,900 shares, the short-interest ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

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

CrossFirst Bankshares Stock Performance

CFB traded down $0.14 during mid-day trading on Friday, reaching $17.13. 195,985 shares of the company traded hands, compared to its average volume of 247,631. The company’s fifty day moving average price is $16.55 and its 200-day moving average price is $15.56. The stock has a market capitalization of $844.51 million, a P/E ratio of 11.65 and a beta of 1.04. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. CrossFirst Bankshares has a 52-week low of $10.64 and a 52-week high of $19.22.

Insiders Place Their Bets

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

Institutional Trading of CrossFirst Bankshares

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of 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 purchasing an additional 1,082 shares during the period. Russell Investments Group Ltd. bought a new stake in CrossFirst Bankshares during the first quarter valued at approximately $173,000. Prevail Innovative Wealth Advisors LLC purchased a new stake in CrossFirst Bankshares during the first quarter valued at approximately $138,000. Vanguard Group Inc. raised its position in CrossFirst Bankshares by 1.0% in the first quarter. Vanguard Group Inc. now owns 2,268,832 shares of the company’s stock worth $31,401,000 after acquiring an additional 22,073 shares during the period. Finally, EntryPoint Capital LLC boosted its stake in shares of CrossFirst Bankshares by 182.8% during the 1st quarter. EntryPoint Capital LLC now owns 3,549 shares of the company’s stock worth $49,000 after acquiring an additional 2,294 shares during the last quarter. 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.