Short Interest in CrossFirst Bankshares, Inc. (NASDAQ:CFB) Declines By 14.4%

CrossFirst Bankshares, Inc. (NASDAQ:CFB) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 774,900 shares, a decline of 14.4% from the May 31st total of 905,200 shares. Based on an average daily trading volume, of 173,300 shares, the days-to-cover ratio is presently 4.5 days. Approximately 1.9% of the company’s shares are short sold.

CrossFirst Bankshares Trading Up 0.2 %

Shares of NASDAQ:CFB traded up $0.03 during midday trading on Monday, reaching $14.05. The company’s stock had a trading volume of 278,963 shares, compared to its average volume of 175,490. The firm has a market capitalization of $692.57 million, a price-to-earnings ratio of 10.18 and a beta of 1.03. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a 50 day moving average price of $13.02 and a two-hundred day moving average price of $13.19. CrossFirst Bankshares has a fifty-two week low of $9.71 and a fifty-two week high of $15.07.

CrossFirst Bankshares (NASDAQ:CFB) last posted its quarterly earnings results on Monday, April 15th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CrossFirst Bankshares had a return on equity of 10.86% and a net margin of 14.37%. The business had revenue of $62.18 million for the quarter, compared to the consensus estimate of $62.86 million. As a group, analysts forecast that CrossFirst Bankshares will post 1.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in CrossFirst Bankshares by 14.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,458,843 shares of the company’s stock worth $19,812,000 after purchasing an additional 187,077 shares in the last quarter. Wellington Management Group LLP bought a new stake in CrossFirst Bankshares during the 3rd quarter worth approximately $1,618,000. SageView Advisory Group LLC bought a new stake in CrossFirst Bankshares during the 4th quarter worth approximately $2,074,000. ClariVest Asset Management LLC bought a new stake in CrossFirst Bankshares during the 1st quarter worth approximately $1,129,000. Finally, Greylin Investment Management Inc bought a new stake in CrossFirst Bankshares during the 4th quarter worth approximately $536,000. 56.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on CFB. Keefe, Bruyette & Woods cut their target price on CrossFirst Bankshares from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Stephens reissued an “overweight” rating and issued a $18.00 price objective on shares of CrossFirst Bankshares in a research note on Tuesday, April 16th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, CrossFirst Bankshares presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

About CrossFirst Bankshares

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.