Chain Bridge Bancorp (NYSE:CBNA) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Chain Bridge Bancorp (NYSE:CBNA) from a buy rating to a hold rating in a research report report published on Monday,Wall Street Zen reports.

Several other research firms have also recently issued reports on CBNA. Weiss Ratings upgraded Chain Bridge Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Zacks Research raised Chain Bridge Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Piper Sandler boosted 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. Finally, Raymond James Financial upgraded Chain Bridge Bancorp from a “market perform” rating to an “outperform” rating and set a $53.00 price target for the company in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $47.50.

Chain Bridge Bancorp Stock Performance

Shares of CBNA stock opened at $48.46 on Monday. Chain Bridge Bancorp has a 52-week low of $28.10 and a 52-week high of $54.11. The firm has a market capitalization of $317.91 million, a PE ratio of 12.15 and a beta of 0.22. The stock has a fifty day simple moving average of $47.13 and a two-hundred day simple moving average of $41.61.

Chain Bridge Bancorp (NYSE:CBNA) last posted its quarterly 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 15.42% and a net margin of 38.64%. The business had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $18.98 million. On average, sell-side analysts forecast that Chain Bridge Bancorp will post 5.20 EPS for the current fiscal year.

Institutional Investors Weigh In On Chain Bridge Bancorp

A number of hedge funds have recently made changes to their positions in CBNA. Hingham Institution for Savings raised its holdings in shares of Chain Bridge Bancorp by 8.3% during the 2nd quarter. Hingham Institution for Savings now owns 334,137 shares of the company’s stock worth $14,050,000 after acquiring an additional 25,525 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Chain Bridge Bancorp in the 1st quarter worth about $647,000. Militia Capital Management LLC bought a new stake in Chain Bridge Bancorp in the first quarter worth about $593,000. Renaissance Technologies LLC lifted its stake in shares of Chain Bridge Bancorp by 2.7% during the 1st quarter. Renaissance Technologies LLC now owns 15,200 shares of the company’s stock worth $530,000 after acquiring an additional 400 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Chain Bridge Bancorp by 3.1% during the first quarter. Bank of America Corp DE now owns 9,661 shares of the company’s stock worth $337,000 after purchasing an additional 293 shares during the last quarter.

Chain Bridge Bancorp Company Profile

Chain Bridge Bancorp, Inc is the bank holding company for Chain Bridge Bank, National Association, a full-service commercial bank headquartered in McLean, Virginia. The company provides banking and financial services to businesses, nonprofit organizations, associations, political organizations, and individuals.

Chain Bridge Bank offers deposit accounts, commercial and consumer lending, cash management, treasury services, online banking, and other customized financial solutions. Its services are designed to support operating, payment, borrowing, and liquidity needs for organizations and privately held businesses, as well as personal banking needs for individuals and families.

Founded in 2007, the company primarily serves clients in the Washington, DC, metropolitan area and provides specialized banking services to organizations and customers located across the United States.