Chain Bridge Bancorp (NYSE:CBNA) Rating Lowered to Hold at Zacks Research

Chain Bridge Bancorp (NYSE:CBNA) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday, Zacks reports.

Several other research firms also recently commented on CBNA. Raymond James Financial raised Chain Bridge Bancorp from a “market perform” rating to an “outperform” rating and set a $53.00 target price on the stock in a research report on Tuesday, October 6th. Wall Street Zen lowered Chain Bridge Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings raised Chain Bridge Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Finally, Piper Sandler lifted their price target on Chain Bridge Bancorp from $39.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $47.50.

Chain Bridge Bancorp Stock Performance

Shares of CBNA stock traded up $0.68 during midday trading on Thursday, hitting $50.74. 51,513 shares of the company were exchanged, compared to its average volume of 16,984. Chain Bridge Bancorp has a 52 week low of $28.14 and a 52 week high of $54.11. The firm has a market capitalization of $332.85 million, a P/E ratio of 10.15 and a beta of 0.16. The firm’s 50 day moving average price is $48.35 and its two-hundred day moving average price is $40.94.

Chain Bridge Bancorp (NYSE:CBNA) last released its quarterly earnings results on Wednesday, October 28th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The firm had revenue of $22.78 million for the quarter, compared to analysts’ expectations of $22.05 million. Chain Bridge Bancorp had a net margin of 42.06% and a return on equity of 18.68%. Analysts expect that Chain Bridge Bancorp will post 5.08 EPS for the current year.

Institutional Trading of Chain Bridge Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of CBNA. Russell Investments Group Ltd. grew its position in shares of Chain Bridge Bancorp by 194.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,021 shares of the company’s stock worth $185,000 after purchasing an additional 2,656 shares in the last quarter. Schwartz Investment Counsel Inc. acquired a new stake in shares of Chain Bridge Bancorp in the third quarter valued at approximately $215,000. Hingham Institution for Savings raised its position in shares of Chain Bridge Bancorp by 0.6% in the third quarter. Hingham Institution for Savings now owns 336,137 shares of the company’s stock valued at $15,489,000 after buying an additional 2,000 shares in the last quarter. Militia Capital Management LLC bought a new stake in shares of Chain Bridge Bancorp in the first quarter valued at approximately $593,000. Finally, Bank of America Corp DE boosted its stake in shares of Chain Bridge Bancorp by 3.1% in the first quarter. Bank of America Corp DE now owns 9,661 shares of the company’s stock valued at $337,000 after buying an additional 293 shares during the period.

Chain Bridge Bancorp Company Profile

Chain Bridge Bancorp, Inc is a bank holding company for Chain Bridge Bank, National Association, a community-focused financial institution headquartered in McLean, Virginia. Founded in 2007, the bank provides commercial banking and financial services to businesses, nonprofit organizations, associations, political organizations and high-net-worth individuals.

Chain Bridge Bank offers deposit accounts, commercial and personal lending, treasury management, cash management and online banking services.