Stifel Financial Corp Reduces Stake in CrossFirst Bankshares, Inc.

Stifel Financial Corp has recently reduced its investment in CrossFirst Bankshares, Inc. (NASDAQ:CFB) by 40% during the third quarter, according to reports by HoldingsChannel.com. After divesting 10,000 shares, the firm now holds 15,000 shares of CrossFirst, which were valued at approximately $250,000 at the close of the most recent quarter.

In addition to Stifel's actions, several other institutional investors have also adjusted their holdings in CrossFirst Bankshares. For example, Point72 DIFC Ltd established a new position in the company during the third quarter with a value close to $93,000. Meanwhile, Quest Partners LLC increased its stake in CrossFirst Bankshares dramatically by 3,091.7% during the same period. After acquiring an additional 7,853 shares, Quest Partners now owns 8,107 shares valued at about $135,000.

Furthermore, Centiva Capital LP acquired a fresh position in the company worth $176,000, while Verition Fund Management LLC also purchased shares for approximately $229,000. The Manufacturers Life Insurance Company raised its stake by 7% last quarter, owning 17,687 shares valued at around $248,000 after buying more shares recently. Currently, institutional investors and hedge funds collectively hold 56.29% of CrossFirst's stock.

Analyst Ratings

In analyst news, Janney Montgomery Scott has upgraded CrossFirst Bankshares from a "neutral" rating to a "buy" rating, assigning a target price of $21.00 for the company in a report released on September 10.

Performance and Metrics

As for the performance of CrossFirst Bankshares, shares opened at $15.31 on Monday. The company showcases a debt-to-equity ratio of 0.11, alongside a current ratio and quick ratio both standing at 0.97. CrossFirst Bankshares enjoys a market capitalization of approximately $755 million, with a price-to-earnings (PE) ratio of 10.41 and a beta value of 1.06. Over the last year, the shares have fluctuated between a low of $10.64 and a high of $19.22, while the fifty-day moving average price is $16.72, and the two-hundred-day moving average stands at $16.39.

Insider Transactions

On another note regarding insider trading, Director George Bruce purchased 100 shares of CrossFirst on October 30, at an average price of $1,000 per share, totaling $100,000 for the transaction. This purchase raised the director's ownership in the firm to 100 shares, valued likewise at $100,000. The insider trading was documented and filed with the Securities & Exchange Commission, indicating that corporate insiders currently own 9.30% of CrossFirst's stock.

About CrossFirst Bankshares

(Free Report) CrossFirst Bankshares, Inc. serves as the holding company for CrossFirst Bank. The company offers a wide range of banking and financial services to businesses, business owners, professionals, and individual customers. Its services include commercial and industrial loans, commercial real estate loans, construction and development loans specifically for home builders, residential real estate loans, multifamily loans, energy sector loans, Small Business Administration (SBA) loans, consumer loans, and credit cards.

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Want to see what other hedge funds are holding CFB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CrossFirst Bankshares, Inc. (NASDAQ:CFB).

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