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

Wall Street Zen cut shares of Chain Bridge Bancorp (NYSE:CBNA) from a buy rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

Several other equities research analysts have also weighed in on the company. Weiss Ratings raised Chain Bridge Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Zacks Research downgraded shares of Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, Piper Sandler upped their price target on shares of Chain Bridge Bancorp from $39.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.17.

Chain Bridge Bancorp Stock Down 1.2%

Shares of CBNA stock opened at $47.20 on Friday. The company has a market cap of $309.61 million, a P/E ratio of 11.62 and a beta of 0.20. The business has a 50 day moving average of $46.20 and a two-hundred day moving average of $40.54. Chain Bridge Bancorp has a 52 week low of $28.10 and a 52 week high of $49.71.

Chain Bridge Bancorp (NYSE:CBNA) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.21. The business had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $18.98 million. Chain Bridge Bancorp had a return on equity of 15.42% and a net margin of 38.64%. Analysts expect that Chain Bridge Bancorp will post 5.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Hingham Institution for Savings increased its holdings in shares of Chain Bridge Bancorp by 8.3% during the second quarter. Hingham Institution for Savings now owns 334,137 shares of the company’s stock valued at $14,050,000 after purchasing an additional 25,525 shares during the period. Gator Capital Management LLC lifted its holdings in Chain Bridge Bancorp by 0.8% in the fourth quarter. Gator Capital Management LLC now owns 205,745 shares of the company’s stock worth $7,127,000 after purchasing an additional 1,635 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in Chain Bridge Bancorp in the first quarter worth about $647,000. Militia Capital Management LLC bought a new position in Chain Bridge Bancorp in the 1st quarter valued at about $593,000. Finally, Renaissance Technologies LLC grew its position in Chain Bridge Bancorp by 2.7% in the 1st quarter. Renaissance Technologies LLC now owns 15,200 shares of the company’s stock valued at $530,000 after buying an additional 400 shares in the last quarter.

About Chain Bridge Bancorp

Chain Bridge Bancorp, Inc is a bank holding company whose principal subsidiary is Chain Bridge Bank, N.A., a nationally chartered community bank headquartered in McLean, Virginia. The bank provides commercial and private banking services to businesses, nonprofit organizations, associations, professional service firms, government contractors, and individuals and families.

Chain Bridge Bank’s offerings include business and personal deposit accounts, commercial and real estate lending, lines of credit, treasury management, online banking, cash-management services, and escrow and custodial services.