Chain Bridge Bancorp, Inc. (NYSE:CBNA) Receives Average Recommendation of “Reduce” from Analysts

Shares of Chain Bridge Bancorp, Inc. (NYSE:CBNA) have earned a consensus recommendation of “Reduce” from the five brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $38.50.

A number of analysts have commented on the company. Wall Street Zen upgraded Chain Bridge Bancorp to a “buy” rating in a research report on Saturday, July 18th. Zacks Research cut Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Weiss Ratings upgraded Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, Hovde Group upped their target price on Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a “market perform” rating in a research note on Monday, May 4th.

Institutional Investors Weigh In On Chain Bridge Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. Militia Capital Management LLC acquired a new position in shares of Chain Bridge Bancorp in the 1st quarter valued at $593,000. Bank of America Corp DE boosted its position in shares of Chain Bridge Bancorp by 3.1% during the 1st quarter. Bank of America Corp DE now owns 9,661 shares of the company’s stock valued at $337,000 after acquiring an additional 293 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Chain Bridge Bancorp during the 1st quarter valued at about $323,000. Renaissance Technologies LLC increased its stake in Chain Bridge Bancorp by 2.7% in the first quarter. Renaissance Technologies LLC now owns 15,200 shares of the company’s stock valued at $530,000 after acquiring an additional 400 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in Chain Bridge Bancorp in the first quarter valued at about $647,000.

Chain Bridge Bancorp Stock Performance

Shares of CBNA opened at $42.19 on Friday. The company has a 50-day simple moving average of $39.20 and a 200-day simple moving average of $36.72. The firm has a market capitalization of $276.73 million, a P/E ratio of 12.74 and a beta of 0.24. Chain Bridge Bancorp has a 52 week low of $25.76 and a 52 week high of $45.26.

Chain Bridge Bancorp (NYSE:CBNA) last released its earnings results on Tuesday, April 28th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.13. Chain Bridge Bancorp had a net margin of 35.09% and a return on equity of 13.07%. The business had revenue of $17.37 million during the quarter, compared to analysts’ expectations of $15.49 million. As a group, equities analysts forecast that Chain Bridge Bancorp will post 4.93 earnings per share for the current year.

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.