Chain Bridge Bancorp (NYSE:CBNA) Given New $39.50 Price Target at Hovde Group

Chain Bridge Bancorp (NYSE:CBNA) had its price target boosted by equities researchers at Hovde Group from $38.00 to $39.50 in a research note issued to investors on Monday. The brokerage currently has a “market perform” rating on the stock. Hovde Group’s price target would suggest a potential upside of 5.05% from the stock’s previous close.

A number of other analysts have also commented on the stock. Piper Sandler assumed coverage on shares of Chain Bridge Bancorp in a research report on Monday, March 16th. They issued a “neutral” rating and a $39.00 price objective on the stock. Raymond James Financial lowered shares of Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, January 7th. Zacks Research lowered shares of Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings raised shares of Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. Four investment 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 company currently has an average rating of “Reduce” and a consensus target price of $38.50.

Chain Bridge Bancorp Stock Down 0.4%

Shares of CBNA stock opened at $37.60 on Monday. The company’s fifty day simple moving average is $35.55 and its 200-day simple moving average is $34.09. The firm has a market cap of $246.73 million, a PE ratio of 11.36 and a beta of 0.45. Chain Bridge Bancorp has a 12 month low of $23.62 and a 12 month high of $38.42.

Chain Bridge Bancorp (NYSE:CBNA) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $15.49 million. Chain Bridge Bancorp had a net margin of 35.09% and a return on equity of 13.31%. On average, equities analysts predict that Chain Bridge Bancorp will post 4.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider James R. Pollock bought 714 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were acquired at an average cost of $35.25 per share, for a total transaction of $25,168.50. Following the completion of the acquisition, the insider owned 3,845 shares in the company, valued at approximately $135,536.25. This represents a 22.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 25.85% of the company’s stock.

Hedge Funds Weigh In On Chain Bridge Bancorp

A number of institutional investors have recently added to or reduced their stakes in CBNA. Acadian Asset Management LLC acquired a new position in Chain Bridge Bancorp during the first quarter worth $131,000. Geode Capital Management LLC increased its holdings in Chain Bridge Bancorp by 115.3% during the second quarter. Geode Capital Management LLC now owns 58,843 shares of the company’s stock worth $1,517,000 after buying an additional 31,510 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Chain Bridge Bancorp during the second quarter worth $29,000. Russell Investments Group Ltd. acquired a new position in Chain Bridge Bancorp during the second quarter worth $37,000. Finally, New York State Common Retirement Fund acquired a new position in Chain Bridge Bancorp during 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.