Short Interest in CrossFirst Bankshares, Inc. (NASDAQ:CFB) Declines By 8.0%

CrossFirst Bankshares, Inc. (NASDAQ:CFB) was the target of a large decline in short interest in October. As of October 15th, there was short interest totalling 406,000 shares, a decline of 8.0% from the September 30th total of 441,100 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 324,500 shares, the short-interest ratio is presently 1.3 days.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Stephens reissued an “overweight” rating and set a $17.00 price objective on shares of CrossFirst Bankshares in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $20.00 target price on shares of CrossFirst Bankshares in a research report on Wednesday, August 28th. Finally, Janney Montgomery Scott upgraded shares of CrossFirst Bankshares from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CrossFirst Bankshares currently has an average rating of “Buy” and a consensus target price of $18.50.

CrossFirst Bankshares Stock Performance

CrossFirst Bankshares stock traded up $0.28 during mid-day trading on Wednesday, reaching $16.33. The company’s stock had a trading volume of 72,339 shares, compared to its average volume of 245,265. The firm has a market cap of $804.86 million, a price-to-earnings ratio of 10.92 and a beta of 1.03. CrossFirst Bankshares has a twelve month low of $10.39 and a twelve month high of $19.22. The business has a 50 day moving average price of $16.75 and a 200-day moving average price of $15.20. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of CrossFirst Bankshares by 9.2% during the first 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. The Manufacturers Life Insurance Company increased its stake in CrossFirst Bankshares by 7.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,687 shares of the company’s stock valued at $248,000 after buying an additional 1,157 shares during the period. Rhumbline Advisers raised its position in shares of CrossFirst Bankshares by 2.6% during 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of CrossFirst Bankshares by 18.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,920 shares of the company’s stock worth $179,000 after acquiring an additional 1,985 shares during the period. Finally, ClariVest Asset Management LLC boosted 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 valued at $1,173,000 after acquiring an additional 2,073 shares in the last quarter. 56.29% of the stock is owned by institutional investors and hedge funds.

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.