FORVIS Wealth Advisors LLC, a prominent institutional investor, recently acquired a new stake in CrossFirst Bankshares, Inc. This strategic move by FORVIS demonstrates the confidence it has in the potential of this financial institution. The acquisition, as reported in its Form 13F filing with the Securities and Exchange Commission (SEC), involved the purchase of 64,376 shares of CrossFirst Bankshares’ stock. This significant investment amounts to approximately $675,000.

By purchasing this stake in CrossFirst Bankshares, FORVIS Wealth Advisors LLC now owns about 0.13% of the company. This latest move adds to FORVIS’s already impressive investment portfolio. It is interesting to note that CrossFirst Bankshares operates as a bank holding company for CrossFirst Bank and offers diverse banking and financial services.

CrossFirst Bankshares has recently released its quarterly earnings results on April 18th. These results have undoubtedly contributed to FORVIS’s decision to invest further in this banking institution. For the quarter, CrossFirst Bankshares reported an impressive $0.35 earnings per share (EPS). This surpassed analysts’ consensus estimates by an impressive $0.04.

The net margin for CrossFirst Bankshares stands at an enviable 19.32%, which showcases the bank’s financial stability and profitability. Additionally, the return on equity stands at a noteworthy 11.13%. These figures indicate that CrossFirst Bankshares is effectively utilizing its assets to generate substantial returns for its shareholders.

In terms of revenue, CrossFirst Bankshares recorded $101.96 million for the quarter – exceeding expectations significantly when compared to a consensus estimate of $60.17 million. This substantial increase in revenue suggests that the bank is experiencing considerable growth and successfully capitalizing on market opportunities.

Equities analysts remain optimistic about CrossFirst Bankshares’ future performance and expect the company to post an EPS of 1.36 for the current year – demonstrating their confidence in the bank’s ability to maintain its upward trajectory.

CrossFirst Bankshares specializes in providing a wide range of banking and financial services to businesses, business owners, professionals, as well as personal networks. This includes commercial real estate, construction and land development, 1-4 family real estate, multifamily real estate, commercial and industrial, energy, and consumer loans. Their diverse portfolio allows them to cater to various sectors of the economy effectively.

As FORVIS Wealth Advisors LLC acquires this new stake in CrossFirst Bankshares, it demonstrates their belief in the company’s potential for growth and success. With its strong quarterly earnings results and positive analyst expectations for the current year, CrossFirst Bankshares is well-positioned to continue making waves in the banking sector. Investors like FORVIS recognize that by aligning themselves with innovative and profitable institutions like CrossFirst Bankshares, they can optimize their portfolios for substantial returns.

It is crucial for institutional investors like FORVIS Wealth Advisors LLC to stay vigilant and actively seek opportunities that align with their investment strategies. By carefully analyzing companies’ performance metrics such as earnings per share, net margin, return on equity, and revenue growth – among other factors – investors can make informed decisions to secure a prosperous future for themselves and their clients.

In conclusion, FORVIS Wealth Advisors LLC’s recent acquisition of a stake in CrossFirst Bankshares showcases the investor’s confidence in the bank’s potential for growth and success. With impressive quarterly earnings results coupled with positive analyst predictions for the current year, CrossFirst Bankshares is poised to thrive in the financial market. As investors continue to navigate through a complex economic landscape, identifying promising assets like CrossFirst Bankshares proves vital in achieving substantial returns.

CrossFirst Bankshares’ Investor Landscape and Strategic Moves Shape Its Path forward

CrossFirst Bankshares Embarks on a Strategic Path Amidst Notable Investor Moves

Date: July 16, 2023

CrossFirst Bankshares, Inc., the bank holding company for CrossFirst Bank, has recently witnessed significant changes in its investor landscape. In addition to established hedge funds and institutional investors adjusting their positions in the company, key directors have also made substantial stock acquisitions. This article analyzes these developments while providing insights into the operations and financial services offered by CrossFirst Bankshares.

Investor Adjustments:
Institutions such as John G Ullman & Associates Inc. and John W. Rosenthal Capital Management Inc. have acquired stakes in CrossFirst Bankshares during recent quarters. John G Ullman & Associates Inc.’s new stake is valued at approximately $433,000, while John W. Rosenthal Capital Management Inc.’s purchase amounts to around $931,000.

Furthermore, Zurcher Kantonalbank Zurich Cantonalbank increased its ownership of CrossFirst Bankshares by an impressive 53.1% during the fourth quarter of the previous fiscal year. The bank now holds 8,701 shares of the company’s stock valued at $108,000 after purchasing an additional 3,016 shares.

Additionally, Kestra Advisory Services LLC entered the picture with a fresh position in CrossFirst Bankshares worth $195,000 during the fourth quarter of last year. Ronald Blue Trust Inc., too, purchased a stake valued at $209,000 during that period. Collectively, hedge funds and other institutional investors own a notable 54.61% of the company’s stock.

Stock Performance:
As per its latest trading statistics on NASDAQ under the symbol CFB on Friday*, CrossFirst Bankshares opened at $10.86 per share. Over the past year, its lows and highs were recorded as $9.29 and $14.79 respectively.

The stock’s fifty-day moving average is $10.46, and its two-hundred-day moving average stands at $11.52. Currently, the company has a market capitalization of $527.80 million, a price-to-earnings (P/E) ratio of 8.83, and a beta of 0.98. Additionally, CrossFirst Bankshares boasts a quick ratio of 0.99 and holds a current ratio of 0.99, highlighting its strong financial position.

Company Overview:
CrossFirst Bankshares serves as the bank holding entity for CrossFirst Bank, which caters to various professionals, businesses, business owners, and personal networks by offering comprehensive banking and financial services.

The company provides an extensive range of loans tailored to meet diverse needs across commercial real estate, construction and land development, 1-4 family real estate, multifamily real estate, commercial and industrial ventures, energy initiatives, and consumers.

Analyst Rating Update:
Meanwhile, TheStreet recently revised CrossFirst Bankshares’ rating from “b-” to “c+,” reflecting changes in their evaluation criteria or market considerations*. The specifics of this updated rating assessment were not disclosed.

Director Transactions:
In recent notable news surrounding CrossFirst Bankshares’ board composition, Director James W. Kuykendall made a significant purchase on May 4th. Acquiring 5,000 shares at an average price of $9.50 per share resulted in a total transaction value of $47,500 for Kuykendall.

Following this acquisition*, Kuykendall now possesses 58,201 shares worth approximately $552,909.50 within the company’s stock*. The details regarding this securities transaction were provided through a filing with the Securities Exchange Commission (SEC), available on their official website.

Additionally*, CAO Michael John Daley acquired 10,000 shares of CrossFirst Bankshares stock for $9.75 per share on May 3rd, totaling $97,500. Daley currently owns 10,000 shares valued at $97,500*, according to the SEC disclosure*. Overall, company insiders collectively own 9.30% of the outstanding stock.

Conclusion:
CrossFirst Bankshares has experienced notable changes within its investor portfolio and key director acquisitions. As it continues to navigate these recent developments, the company remains steadfast in delivering its comprehensive banking and financial services to diverse client segments.

*Please note that the figures provided in this article are accurate as of July 16, 2023

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