CrossFirst Bankshares (NASDAQ:CFB) Announces Earnings Results

CrossFirst Bankshares (NASDAQ:CFB – Get Rating) announced its quarterly earnings results on Monday. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04, MarketWatch Earnings reports. The business had revenue of $86.72 million for the quarter, compared to analysts’ expectations of $55.30 million. CrossFirst Bankshares had a return on equity of 11.37% and a net margin of 30.23%.

CrossFirst Bankshares Stock Performance

Shares of NASDAQ:CFB traded up $0.80 during midday trading on Tuesday, reaching $12.96. 139,502 shares of the company’s stock traded hands, compared to its average volume of 78,220. The company has a market cap of $630.09 million, a price-to-earnings ratio of 9.33 and a beta of 1.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 0.98. CrossFirst Bankshares has a one year low of $11.79 and a one year high of $16.50. The stock has a 50 day moving average of $12.85 and a 200 day moving average of $13.29.

Insider Activity

In other news, Director George Bruce sold 2,500 shares of the company’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $12.50, for a total transaction of $31,250.00. Following the transaction, the director now directly owns 65,617 shares of the company’s stock, valued at $820,212.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 8.96% of the company’s stock.

Institutional Trading of CrossFirst Bankshares

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers increased its position in CrossFirst Bankshares by 27.8% in the second quarter. Rhumbline Advisers now owns 65,650 shares of the company’s stock worth $867,000 after buying an additional 14,284 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in CrossFirst Bankshares by 13.4% in the second quarter. UBS Asset Management Americas Inc. now owns 64,306 shares of the company’s stock worth $849,000 after buying an additional 7,596 shares in the last quarter. Citadel Advisors LLC purchased a new stake in CrossFirst Bankshares in the second quarter worth about $707,000. Algert Global LLC increased its position in CrossFirst Bankshares by 8.6% in the third quarter. Algert Global LLC now owns 37,788 shares of the company’s stock worth $493,000 after buying an additional 2,982 shares in the last quarter. Finally, Credit Suisse AG increased its position in CrossFirst Bankshares by 3.5% in the third quarter. Credit Suisse AG now owns 34,474 shares of the company’s stock worth $449,000 after buying an additional 1,152 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CFB. Raymond James cut CrossFirst Bankshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 5th. Stephens boosted their target price on CrossFirst Bankshares from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 19th.

About CrossFirst Bankshares

(Get Rating)

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 real estate, construction and development, 1-4 family real estate, commercial, energy, and consumer loans.