Raymond James changed their recommendation for CrossFirst Bankshares (NASDAQ: CFB) on Thursday, moving it from “outperform” to “market perform.” The Fly reported this.
Stephens upgraded CrossFirst Bankshares to “equal weight” and raised their target price on the stock from $15.00 to $16.00 in a research note published on Wednesday, October 19, 2018.
On Thursday, the stock of CrossFirst Bankshares was introduced to the trading market at $12.43 per share. The company currently possesses a PE ratio of 8.94, a market capitalization of 604.35 million dollars, and a beta value of 1.05. The straightforward moving average for the past 200 days at the company is 13.39 dollars, and the straightforward moving average for the last 50 days is 13.17 dollars. The debt-to-equity ratio, the quick ratio, and the current ratio all have the same value of 0.36, and they all have the same value of 0.98. During the previous year, the price of a share of CrossFirst Bankshares ranged from a low of $12.17 to a high of $16.50.
On October 17, the financial report for CrossFirst Bankshares, which is publicly traded and can be found under the NASDAQ: CFB, was made available to the public. The company reported earnings per share for the quarter at $0.35, which was $0.01 higher than analysts’ consensus estimate of $0.34. The sales for the company during the quarter came in at $53.48 million, which is a sizeable increase compared to the predictions of analysts, which were $52.88 million. The return on equity came in at 11.37% for CrossFirst Bankshares, while the net margin for the company was 30.23%. According to the forecasts provided by industry analysts, CrossFirst Bankshares should bring in earnings of $1.32 per share for the current financial year.
In related news, on December 15, Director George Bruce sold 2,500 of the company’s shares of stock. This is just one of the latest developments in this ongoing story. There were a total of $31,250.00 worth of transactions involving the purchase and sale of the company’s stock, with each share changing hands at an average price of $12.50. Following the completion of the transaction, the director will have a total of 65,617 shares in the company, which will be worth approximately $820,212.50 at present. If you follow the link, which will take you to a legal file submitted to the SEC, you will have the opportunity to acquire additional information regarding the transaction. The company’s executives, directors, and other key employees own 8.96% of the business.
The way that institutional investors are currently holding their positions in the company has recently undergone some shifts due to recent changes. During the first three months of the year, Vanguard Group Inc. increased the percentage of CrossFirst Bankshares held in its portfolio by 1.7%. Vanguard Group Inc. purchased an additional 37,477 shares of the company’s stock during the most recent quarter, bringing the total number of shares directly owned by the company to 2,184,812. These shares have a value of $34,433,000. Federated Hermes Inc. increased the proportion of CrossFirst Bankshares owned by 27.1% during the first three months of 2018. After making additional purchases totaling 403,220 shares during the most recent fiscal quarter, Federated Hermes Inc. now holds a total of 1,890,831 of the company’s shares in its portfolio. The price at which these shares are trading on the market right now is $29,799,000. The State Street Corporation exercised its right to purchase an additional 15.8 percent of CrossFirst Bankshares during the second quarter. State Street Corp. now has 1,071,529 shares in the company, adding 146,187 more shares to its holdings during the preceding quarter through purchasing new stock.
The current value of these shares, as determined by the market, is $14,144,000. During the third quarter, Dimensional Fund Advisors LP witnessed an increase in the value of the CrossFirst Bankshares that it owns, equaling 18.6% of the previous quarter’s value. After making additional purchases totaling 127,549 shares over the most recent fiscal quarter, Dimensional Fund Advisors LP now holds 812,033 shares of the company’s stock. This number of shares is worth a total of $10,598,000. During the third quarter, Captrust Financial Advisors increased the amount of money it had invested in CrossFirst Bankshares by 158,723.7%. This is the final point, but it is by no means the least significant. After making additional purchases totaling 650,767 shares during the most recent fiscal quarter, Captrust Financial Advisors now has 651,177 shares of the company’s stock. The value of the company’s stock on the market as of right now is $8,498,000. The majority of the stock in the company is held by institutional investors, which account for 51.59% of the total.
CrossFirst Bank is a subsidiary of CrossFirst Bankshares, Inc., a holding company. CrossFirst Bank provides a wide range of banking and financial services to corporations, business owners, professionals, and the personal networks of its customers. These clients can be located by utilizing the bank’s networking resources. This organization offers loans for various uses, such as commercial real estate, development and construction, one-to-four-family residences, business, energy, and personal use. Some of the other uses include:
CrossFirst Bankshares (NASDAQ:CFB) has been downgraded to Market Perform by Raymond James.
