CrossFirst Bankshares, Inc. (NASDAQ:CFB) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in CrossFirst Bankshares, Inc. (NASDAQ:CFB - Free Report) by 32.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,706 shares of the company's stock after selling 69,759 shares during the period. State of New Jersey Common Pension Fund D owned 0.30% of CrossFirst Bankshares worth $2,043,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in CrossFirst Bankshares by 1.0% in the first quarter. Vanguard Group Inc. now owns 2,268,832 shares of the company's stock valued at $31,401,000 after acquiring an additional 22,073 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in CrossFirst Bankshares by 14.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,458,843 shares of the company's stock valued at $19,812,000 after acquiring an additional 187,077 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in CrossFirst Bankshares by 7.2% in the second quarter. Bank of New York Mellon Corp now owns 206,934 shares of the company's stock valued at $2,901,000 after acquiring an additional 13,863 shares in the last quarter. Empowered Funds LLC raised its holdings in CrossFirst Bankshares by 8.2% in the first quarter. Empowered Funds LLC now owns 161,607 shares of the company's stock valued at $2,237,000 after acquiring an additional 12,217 shares in the last quarter. Finally, SageView Advisory Group LLC acquired a new stake in CrossFirst Bankshares in the fourth quarter valued at $2,074,000. 56.29% of the stock is owned by institutional investors and hedge funds.

CrossFirst Bankshares Stock Performance

Shares of NASDAQ:CFB traded down $0.25 on Friday, reaching $17.40. 536,600 shares of the company's stock were exchanged, compared to its average volume of 244,738. The firm has a market capitalization of $857.70 million, a price-to-earnings ratio of 12.61 and a beta of 1.03. CrossFirst Bankshares, Inc. has a fifty-two week low of $9.71 and a fifty-two week high of $19.22. The business's 50-day moving average is $17.34 and its two-hundred day moving average is $14.59. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.12.

CrossFirst Bankshares (NASDAQ:CFB - Get Free Report) last released its quarterly earnings results on Monday, July 15th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. CrossFirst Bankshares had a net margin of 14.43% and a return on equity of 10.74%. The business had revenue of $63.59 million during the quarter, compared to analyst estimates of $63.66 million. As a group, equities research analysts forecast that CrossFirst Bankshares, Inc. will post 1.52 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Stephens reaffirmed an "overweight" rating and issued a $17.00 price target on shares of CrossFirst Bankshares in a report on Tuesday, July 16th. Janney Montgomery Scott raised shares of CrossFirst Bankshares from a "neutral" rating to a "buy" rating and set a $21.00 target price on the stock in a report on Tuesday, September 10th. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and set a $20.00 target price on shares of CrossFirst Bankshares in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $18.50.

CrossFirst Bankshares Profile

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 and industrial loans, including enterprise value lending; commercial real estate loans; construction and development loans, such as home builder lending; residential real estate, multifamily real estate, energy, SBA, and consumer loans; and credit cards.