CrossFirst Bankshares, Inc. (NASDAQ:CFB) Expected to Post Quarterly Sales of $49.37 Million

Wall Street brokerages forecast that CrossFirst Bankshares, Inc. (NASDAQ:CFBGet Rating) will announce $49.37 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for CrossFirst Bankshares’ earnings. The lowest sales estimate is $48.80 million and the highest is $49.82 million. CrossFirst Bankshares reported sales of $48.15 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.5%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that CrossFirst Bankshares will report full-year sales of $200.42 million for the current fiscal year, with estimates ranging from $198.40 million to $202.66 million. For the next fiscal year, analysts expect that the business will post sales of $216.64 million, with estimates ranging from $214.90 million to $219.73 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for CrossFirst Bankshares.

CrossFirst Bankshares (NASDAQ:CFBGet Rating) last issued its quarterly earnings data on Monday, April 18th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. CrossFirst Bankshares had a return on equity of 11.37% and a net margin of 35.81%. The company had revenue of $48.06 million for the quarter, compared to the consensus estimate of $47.12 million. During the same quarter last year, the company earned $0.23 earnings per share.

Several equities research analysts have weighed in on CFB shares. Raymond James raised their price target on CrossFirst Bankshares from $18.00 to $19.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 25th. Zacks Investment Research downgraded CrossFirst Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. Finally, Stephens lowered their price target on CrossFirst Bankshares from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, April 20th.

Shares of NASDAQ CFB opened at $12.79 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $634.97 million, a PE ratio of 8.88 and a beta of 1.30. The business has a 50-day simple moving average of $14.60 and a two-hundred day simple moving average of $15.07. CrossFirst Bankshares has a fifty-two week low of $11.81 and a fifty-two week high of $16.50.

Several large investors have recently made changes to their positions in the company. Federated Hermes Inc. raised its position in CrossFirst Bankshares by 27.1% during the first quarter. Federated Hermes Inc. now owns 1,890,831 shares of the company’s stock valued at $29,799,000 after acquiring an additional 403,220 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in CrossFirst Bankshares during the fourth quarter valued at approximately $4,997,000. Dimensional Fund Advisors LP raised its position in CrossFirst Bankshares by 30.8% during the first quarter. Dimensional Fund Advisors LP now owns 500,153 shares of the company’s stock valued at $7,882,000 after acquiring an additional 117,659 shares in the last quarter. Marshall Wace LLP purchased a new position in CrossFirst Bankshares during the third quarter valued at approximately $1,430,000. Finally, Two Sigma Investments LP purchased a new position in CrossFirst Bankshares during the third quarter valued at approximately $962,000. Hedge funds and other institutional investors own 49.83% of the company’s stock.

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.

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Earnings History and Estimates for CrossFirst Bankshares (NASDAQ:CFB)

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