Chain Bridge Bancorp (NYSE:CBNA) Issues Earnings Results

Chain Bridge Bancorp (NYSE:CBNA) announced its quarterly earnings results on Wednesday. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.02, Zacks reports. Chain Bridge Bancorp had a return on equity of 12.10% and a net margin of 32.83%.

Chain Bridge Bancorp Stock Down 2.7%

Shares of NYSE CBNA traded down $0.92 during mid-day trading on Wednesday, reaching $32.79. 1,688 shares of the company were exchanged, compared to its average volume of 4,366. The stock has a market capitalization of $215.09 million, a P/E ratio of 11.46 and a beta of 0.47. The company’s 50-day simple moving average is $33.85 and its 200-day simple moving average is $31.11. Chain Bridge Bancorp has a twelve month low of $20.01 and a twelve month high of $38.42.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Raymond James Financial downgraded Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chain Bridge Bancorp in a research report on Monday, December 29th. Finally, Zacks Research cut Chain Bridge Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 30th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $33.00.

Institutional Investors Weigh In On Chain Bridge Bancorp

A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Chain Bridge Bancorp by 115.3% during the 2nd quarter. Geode Capital Management LLC now owns 58,843 shares of the company’s stock worth $1,517,000 after purchasing an additional 31,510 shares during the last quarter. Bank of America Corp DE increased its position in Chain Bridge Bancorp by 236.0% during the 3rd quarter. Bank of America Corp DE now owns 8,508 shares of the company’s stock worth $278,000 after buying an additional 5,976 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Chain Bridge Bancorp during the first quarter worth $131,000. Vanguard Group Inc. boosted its position in shares of Chain Bridge Bancorp by 4.2% in the third quarter. Vanguard Group Inc. now owns 112,494 shares of the company’s stock valued at $3,682,000 after acquiring an additional 4,484 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in shares of Chain Bridge Bancorp in the second quarter valued at about $101,000.

About Chain Bridge Bancorp

Chain Bridge Bancorp, Inc (NYSE: CBNA) is the bank holding company for Chain Bridge Bank, a full-service community commercial bank headquartered in Oakton, Virginia. Founded in 1999, the company is focused on serving small- and middle-market businesses, professional firms and individual clients throughout the Washington, DC metropolitan area.

Through its subsidiary, Chain Bridge Bank provides a comprehensive suite of deposit products, including checking, savings and money market accounts, as well as time deposits.