Chain Bridge Bancorp (NYSE:CBNA) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of Chain Bridge Bancorp (NYSE:CBNA) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

Other analysts have also issued research reports about the company. Weiss Ratings raised Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Hovde Group increased their target price on Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a “market perform” rating in a report on Monday, May 4th. Finally, Piper Sandler initiated coverage on Chain Bridge Bancorp in a research report on Monday, March 16th. They issued a “neutral” rating and a $39.00 target price on the stock. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $38.50.

Chain Bridge Bancorp Stock Up 4.2%

Shares of Chain Bridge Bancorp stock opened at $43.80 on Tuesday. Chain Bridge Bancorp has a twelve month low of $25.39 and a twelve month high of $45.26. The company’s 50 day moving average is $37.31 and its 200 day moving average is $35.99. The company has a market cap of $287.33 million, a price-to-earnings ratio of 13.23 and a beta of 0.23.

Chain Bridge Bancorp (NYSE:CBNA) last posted its earnings results on Tuesday, April 28th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. The business had revenue of $17.37 million during the quarter, compared to the consensus estimate of $15.49 million. Chain Bridge Bancorp had a net margin of 35.09% and a return on equity of 13.07%. Sell-side analysts expect that Chain Bridge Bancorp will post 4.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Chain Bridge Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new stake in Chain Bridge Bancorp during the 2nd quarter worth approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Chain Bridge Bancorp during the 2nd quarter valued at approximately $33,000. Russell Investments Group Ltd. bought a new stake in shares of Chain Bridge Bancorp during the second quarter valued at approximately $37,000. Wells Fargo & Company MN lifted its holdings in shares of Chain Bridge Bancorp by 49.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock worth $85,000 after buying an additional 815 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new position in shares of Chain Bridge Bancorp during the second quarter worth $101,000.

Chain Bridge Bancorp Company Profile

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.