CrossFirst Bankshares (NASDAQ:CFB) Raised to Buy at Zacks Investment Research


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CrossFirst Bankshares (NASDAQ:CFB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday, Zacks.com reports. The brokerage presently has a $17.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.86% from the company’s previous close.

According to Zacks, “CrossFirst Bankshares Inc. is a bank holding company which, through its wholly-owned subsidiary CrossFirst Bank, provides personal banking, wealth management, loans, savings accounts, leasing, retirement plans, investment management and insurance services to businesses. It operates primarily in Kansas, Missouri, Oklahoma and Texas. CrossFirst Bankshares Inc. is headquartered in Leawood, Kansas. “

Several other research firms have also issued reports on CFB. Truist lifted their price target on CrossFirst Bankshares from $12.00 to $15.00 in a research report on Monday, March 8th. Raymond James lifted their target price on shares of CrossFirst Bankshares from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th.

Shares of CFB opened at $14.93 on Monday. CrossFirst Bankshares has a fifty-two week low of $7.66 and a fifty-two week high of $15.67. The firm’s 50-day simple moving average is $14.12 and its two-hundred day simple moving average is $12.01. The stock has a market cap of $771.60 million, a PE ratio of 213.29 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.02 and a current ratio of 1.02.

CrossFirst Bankshares (NASDAQ:CFB) last posted its quarterly earnings results on Wednesday, April 21st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. The company had revenue of $45.26 million for the quarter, compared to the consensus estimate of $43.34 million. CrossFirst Bankshares had a return on equity of 1.84% and a net margin of 1.73%. Equities research analysts predict that CrossFirst Bankshares will post 0.4 EPS for the current year.

In related news, CTO Jana Merfen purchased 7,100 shares of CrossFirst Bankshares stock in a transaction dated Monday, March 22nd. The stock was purchased at an average cost of $14.00 per share, for a total transaction of $99,400.00. Following the completion of the purchase, the chief technology officer now directly owns 7,100 shares of the company’s stock, valued at approximately $99,400. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman George F. Jones, Jr. sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $13.85, for a total transaction of $277,000.00. Following the transaction, the insider now directly owns 46,897 shares of the company’s stock, valued at $649,523.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,500 shares of company stock worth $337,900. Corporate insiders own 8.85% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in CrossFirst Bankshares by 13.1% during the fourth quarter. BlackRock Inc. now owns 2,901,488 shares of the company’s stock valued at $31,191,000 after acquiring an additional 336,588 shares during the last quarter. UMB Bank N A MO purchased a new stake in shares of CrossFirst Bankshares in the 1st quarter worth $2,932,000. Dimensional Fund Advisors LP bought a new position in CrossFirst Bankshares in the 4th quarter worth $1,352,000. JPMorgan Chase & Co. lifted its position in CrossFirst Bankshares by 197.8% during the fourth quarter. JPMorgan Chase & Co. now owns 170,875 shares of the company’s stock valued at $1,837,000 after purchasing an additional 113,498 shares in the last quarter. Finally, Creative Planning grew its holdings in CrossFirst Bankshares by 190.8% during the fourth quarter. Creative Planning now owns 121,016 shares of the company’s stock valued at $1,301,000 after purchasing an additional 79,400 shares during the period. Hedge funds and other institutional investors own 44.55% of the company’s stock.

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

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