Short Interest in Chain Bridge Bancorp, Inc. (NYSE:CBNA) Expands By 143.7%

Chain Bridge Bancorp, Inc. (NYSE:CBNA) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 27,552 shares, an increase of 143.7% from the June 15th total of 11,305 shares. Based on an average daily volume of 20,476 shares, the short-interest ratio is presently 1.3 days. Approximately 0.6% of the shares of the stock are sold short.

Chain Bridge Bancorp Trading Up 0.9%

Chain Bridge Bancorp stock traded up $0.38 during mid-day trading on Wednesday, reaching $41.74. The company had a trading volume of 13,781 shares, compared to its average volume of 7,127. The business has a fifty day simple moving average of $38.58 and a 200 day simple moving average of $36.38. The company has a market cap of $273.85 million, a P/E ratio of 12.61 and a beta of 0.24. Chain Bridge Bancorp has a fifty-two week low of $25.39 and a fifty-two week high of $45.26.

Chain Bridge Bancorp (NYSE:CBNA) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.13. Chain Bridge Bancorp had a net margin of 35.09% and a return on equity of 13.07%. The company had revenue of $17.37 million during the quarter, compared to the consensus estimate of $15.49 million. Research analysts forecast that Chain Bridge Bancorp will post 4.93 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on CBNA shares. Hovde Group upped their price objective on Chain Bridge Bancorp from $38.00 to $39.50 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Zacks Research cut Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings raised Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $38.50.

Hedge Funds Weigh In On Chain Bridge Bancorp

Several large investors have recently bought and sold shares of CBNA. Acadian Asset Management LLC acquired a new stake in shares of Chain Bridge Bancorp during the first quarter valued at about $131,000. Geode Capital Management LLC increased its stake in shares of Chain Bridge Bancorp by 115.3% in the second quarter. Geode Capital Management LLC now owns 58,843 shares of the company’s stock valued at $1,517,000 after buying an additional 31,510 shares during the period. JPMorgan Chase & Co. bought a new position in Chain Bridge Bancorp in the 2nd quarter valued at approximately $29,000. Russell Investments Group Ltd. bought a new position in Chain Bridge Bancorp in the 2nd quarter valued at approximately $37,000. Finally, New York State Common Retirement Fund acquired a new stake in Chain Bridge Bancorp during the 2nd quarter worth approximately $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.