Los Angeles Capital Management LLC Cuts Holdings in CrossFirst Bankshares, Inc. (NASDAQ:CFB)

Los Angeles Capital Management LLC trimmed its holdings in shares of CrossFirst Bankshares, Inc. (NASDAQ:CFBGet Rating) by 16.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,994 shares of the company’s stock after selling 13,277 shares during the period. Los Angeles Capital Management LLC owned about 0.13% of CrossFirst Bankshares worth $871,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lazard Asset Management LLC purchased a new position in CrossFirst Bankshares in the 1st quarter valued at approximately $36,000. Amalgamated Bank purchased a new position in CrossFirst Bankshares in the 1st quarter valued at approximately $104,000. Canvas Wealth Advisors LLC purchased a new position in CrossFirst Bankshares in the 1st quarter valued at approximately $155,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in CrossFirst Bankshares in the 2nd quarter valued at approximately $172,000. Finally, SG Americas Securities LLC purchased a new position in CrossFirst Bankshares in the 2nd quarter valued at approximately $200,000. 51.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director James W. Kuykendall purchased 2,500 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was bought at an average price of $12.93 per share, with a total value of $32,325.00. Following the completion of the transaction, the director now owns 53,201 shares of the company’s stock, valued at approximately $687,888.93. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other CrossFirst Bankshares news, Director James W. Kuykendall acquired 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were acquired at an average price of $12.93 per share, for a total transaction of $32,325.00. Following the completion of the acquisition, the director now directly owns 53,201 shares of the company’s stock, valued at $687,888.93. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lance Humphreys sold 14,122 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $15.61, for a total value of $220,444.42. Following the sale, the director now owns 137,394 shares in the company, valued at approximately $2,144,720.34. The disclosure for this sale can be found here. 8.96% of the stock is currently owned by company insiders.

CrossFirst Bankshares Stock Performance

CrossFirst Bankshares stock opened at $13.35 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day moving average of $13.38 and a two-hundred day moving average of $13.38. The company has a market capitalization of $658.30 million, a price-to-earnings ratio of 9.65 and a beta of 1.05. CrossFirst Bankshares, Inc. has a fifty-two week low of $12.27 and a fifty-two week high of $16.50.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Raymond James downgraded CrossFirst Bankshares from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $18.00 to $16.00 in a research note on Thursday, October 6th. Truist Financial dropped their price objective on CrossFirst Bankshares to $14.00 in a research note on Friday, July 22nd. Stephens raised their price target on CrossFirst Bankshares from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 19th. Finally, TheStreet raised CrossFirst Bankshares from a “c” rating to a “b-” rating in a research report on Monday, August 15th.

CrossFirst Bankshares Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for CrossFirst Bankshares (NASDAQ:CFB)

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