Principal Financial Group Inc. Takes Position in CrossFirst Bankshares, Inc. (NASDAQ:CFB)

Principal Financial Group Inc. purchased a new stake in shares of CrossFirst Bankshares, Inc. (NASDAQ:CFB - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 28,861 shares of the company's stock, valued at approximately $482,000. Principal Financial Group Inc. owned about 0.06% of CrossFirst Bankshares at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in CrossFirst Bankshares by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 2,268,832 shares of the company's stock valued at $31,401,000 after buying an additional 22,073 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of CrossFirst Bankshares by 10.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,870,785 shares of the company's stock valued at $26,228,000 after purchasing an additional 175,646 shares during the last quarter. American Century Companies Inc. increased its stake in shares of CrossFirst Bankshares by 19.4% in the second quarter. American Century Companies Inc. now owns 737,700 shares of the company's stock worth $10,343,000 after purchasing an additional 119,844 shares during the period. Creative Planning lifted its position in shares of CrossFirst Bankshares by 2.6% during the 2nd quarter. Creative Planning now owns 264,498 shares of the company's stock worth $3,708,000 after purchasing an additional 6,749 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in CrossFirst Bankshares by 7.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 206,934 shares of the company's stock valued at $2,901,000 after purchasing an additional 13,863 shares during the period. 56.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on CFB. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $20.00 price target on shares of CrossFirst Bankshares in a report on Wednesday, August 28th. 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 research report on Tuesday, September 10th.

CrossFirst Bankshares Stock Performance

CFB traded down $0.01 during trading on Monday, reaching $17.95. 266,806 shares of the company's stock were exchanged, compared to its average volume of 245,928. The company has a market capitalization of $885.11 million, a P/E ratio of 12.21 and a beta of 1.04. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $16.60 and a 200 day moving average price of $15.80. CrossFirst Bankshares, Inc. has a fifty-two week low of $10.64 and a fifty-two week high of $19.22.

Insider Activity

In related news, Director George Bruce acquired 100 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $1,000.00 per share, for a total transaction of $100,000.00. Following the completion of the purchase, the director now directly owns 100 shares of the company's stock, valued at $100,000. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.03% of the stock is owned by company insiders.

About CrossFirst Bankshares

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.