Chain Bridge Bancorp (NYSE:CBNA) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Chain Bridge Bancorp (NYSE:CBNA) from a hold rating to a buy rating in a research report released on Sunday morning.

CBNA has been the subject of several other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Chain Bridge Bancorp in a report on Wednesday, July 29th. Piper Sandler upped their target price on Chain Bridge Bancorp from $39.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Hovde Group increased their target price on Chain Bridge Bancorp from $38.00 to $39.50 and gave the stock a “market perform” rating in a report on Monday, May 4th. Finally, Zacks Research downgraded shares of Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $42.17.

Chain Bridge Bancorp Price Performance

Shares of CBNA opened at $46.77 on Friday. The stock has a 50-day moving average of $41.04 and a 200-day moving average of $37.62. The company has a market cap of $306.78 million, a PE ratio of 11.52 and a beta of 0.21. Chain Bridge Bancorp has a one year low of $26.26 and a one year high of $49.07.

Chain Bridge Bancorp (NYSE:CBNA) last issued its earnings results on Tuesday, July 28th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.21. Chain Bridge Bancorp had a return on equity of 15.75% and a net margin of 38.64%.The business had revenue of $20.00 million during the quarter, compared to analyst estimates of $18.98 million. Analysts expect that Chain Bridge Bancorp will post 5.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Chain Bridge Bancorp

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new position in shares of Chain Bridge Bancorp in the second quarter valued at approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Chain Bridge Bancorp during the second quarter worth $33,000. Russell Investments Group Ltd. purchased a new position in Chain Bridge Bancorp in the second quarter worth $37,000. Wells Fargo & Company MN boosted its position in 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 purchasing an additional 815 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new position in Chain Bridge Bancorp in the second quarter worth $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.