Chain Bridge Bancorp (NYSE:CBNA) Announces Quarterly Earnings Results

Chain Bridge Bancorp (NYSE:CBNA) issued its quarterly earnings results on Wednesday. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04, FiscalAI reports. Chain Bridge Bancorp had a return on equity of 18.68% and a net margin of 42.06%. The business had revenue of $22.78 million for the quarter, compared to the consensus estimate of $22.05 million.

Chain Bridge Bancorp Trading Up 0.5%

Shares of NYSE CBNA opened at $51.09 on Friday. Chain Bridge Bancorp has a 12 month low of $28.14 and a 12 month high of $54.11. The company has a 50 day simple moving average of $47.75 and a two-hundred day simple moving average of $40.41. The stock has a market cap of $335.18 million, a price-to-earnings ratio of 10.22 and a beta of 0.22.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CBNA. Piper Sandler raised their price objective 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. Wall Street Zen lowered Chain Bridge Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 12th. Zacks Research upgraded Chain Bridge Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Weiss Ratings raised Chain Bridge Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Finally, Raymond James Financial raised Chain Bridge Bancorp from a “market perform” rating to an “outperform” rating and set a $53.00 price target for the company in a report on Tuesday, October 6th. One investment 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.50.

About Chain Bridge Bancorp

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.