() experienced a significant decrease in short-term interest during the month of march. On March 31, there were 1,300,000 short shares. This is a 12.8% decrease from the total of 1,490,000 on March 15. The days-tocover ratio, based on an average daily share volume of 134.700, is currently 9.7 days. About 3.0% of shares are shorted.
CrossFirst Bank shares are gaining interest from institutional investors
Large investors have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D purchased a new position in CrossFirst Bankshares in the third quarter worth approximately $2,278,000. Barclays PLC grew its position in CrossFirst Bankshares by 162.6% in the third quarter. Barclays PLC now owns 14,830 shares of the company's stock worth $193,000 after acquiring an additional 9,183 shares during the period. Quadrant Capital Group LLC purchased a new position in CrossFirst Bankshares in the third quarter worth approximately $29,000. Kestra Advisory Services LLC purchased a new position in CrossFirst Bankshares in the fourth quarter worth approximately $195,000. Finally, Ronald Blue Trust Inc. purchased a new position in CrossFirst Bankshares in the fourth quarter worth approximately $209,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Raymond James cut CrossFirst Bankshares from an 'outperform' rating to a 'market perform' rating in a report on Thursday, January 5th.
CrossFirst Bankshares Price performance
The stock fell $0.08 at midday on Friday to $10.14. The stock was traded at a volume of 67,802, compared to the average of 130,215. The company has a moving average for the past 50 days of $11.94, and a moving average for the last 200 days of $12.74. CrossFirst Bankshares' 52-week low is $9.79, and its 52-week high is $14.79. The stock's market capitalization is $492.80 millions, with a PE of 8.24. It also has a beta value of 0.99. The company's quick ratio is 0.98, its current ratio is 0.98, and it has a debt to equity ratio of 0.42.
The company last released its results on Monday April 17th. The company posted $0.35 per share for the quarter. This was $0.04 higher than analysts' expectations of $0.31. Revenue for the quarter was $101.96m, which is higher than analysts' expectations of $60.17m. CrossFirst Bankshares' return on equity was 11.35%, and its net margin was 19.32%. In the same quarter of the previous year, the company earned $0.33 per share. Analysts predict an average of 1.3 earnings per share for CrossFirst Bankshares in the current year.
CrossFirst Bankshares Company profile
CrossFirst Bankshares, Inc is the holding company of CrossFirst Bank, which provides a variety of banking and financial products and services to business, professionals, entrepreneurs, and their personal networks. The company provides commercial real estate loans, construction and developments, 1-4-family real estate, consumer, commercial and energy loans.
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