Short Interest in CrossFirst Bankshares, Inc. (NASDAQ:CFB) Drops By 7.9%

CrossFirst Bankshares, Inc. (NASDAQ:CFB) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 561,300 shares, a drop of 7.9% from the August 31st total of 609,500 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily trading volume, of 381,600 shares, the short-interest ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

CFB has been the topic of several recent research reports. Janney Montgomery Scott upgraded shares of 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. Stephens reissued an “overweight” rating and issued a $17.00 price objective on shares of CrossFirst Bankshares in a report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $20.00 target price on shares of CrossFirst Bankshares in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CrossFirst Bankshares currently has a consensus rating of “Buy” and a consensus target price of $18.50.

CrossFirst Bankshares Price Performance

Shares of NASDAQ:CFB traded down $0.44 during trading on Tuesday, reaching $16.25. The company had a trading volume of 31,116 shares, compared to its average volume of 244,498. CrossFirst Bankshares has a twelve month low of $9.75 and a twelve month high of $19.22. 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 market capitalization of $801.01 million, a PE ratio of 12.09 and a beta of 1.03. The firm’s fifty day moving average is $17.25 and its 200 day moving average is $14.77.

CrossFirst Bankshares (NASDAQ:CFB) last issued its quarterly earnings results on Monday, July 15th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. CrossFirst Bankshares had a return on equity of 10.74% and a net margin of 14.43%. The firm had revenue of $63.59 million during the quarter, compared to analyst estimates of $63.66 million. On average, equities analysts forecast that CrossFirst Bankshares will post 1.52 EPS for the current year.

Hedge Funds Weigh In On CrossFirst Bankshares

Several large investors have recently made changes to their positions in CFB. Dimensional Fund Advisors LP grew its position in CrossFirst Bankshares by 14.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,458,843 shares of the company’s stock worth $19,812,000 after buying an additional 187,077 shares during the last quarter. TD Asset Management Inc boosted its stake in CrossFirst Bankshares by 1.7% in the 4th quarter. TD Asset Management Inc now owns 82,564 shares of the company’s stock worth $1,121,000 after purchasing an additional 1,400 shares during the period. Campbell & CO Investment Adviser LLC raised its stake in CrossFirst Bankshares by 174.3% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 55,114 shares of the company’s stock valued at $748,000 after purchasing an additional 35,022 shares during the period. SageView Advisory Group LLC purchased a new stake in shares of CrossFirst Bankshares in the fourth quarter valued at $2,074,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of CrossFirst Bankshares in the fourth quarter worth $140,000. 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.