Chain Bridge Bancorp (NYSE:CBNA) Downgraded to “Hold” Rating by Zacks Research

Chain Bridge Bancorp (NYSE:CBNA) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on CBNA. Weiss Ratings upgraded Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Hovde Group boosted their price objective on shares of Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a “market perform” rating in a report on Monday, May 4th. Finally, Piper Sandler began coverage on shares of Chain Bridge Bancorp in a research report on Monday, March 16th. They issued a “neutral” rating and a $39.00 target price on the stock. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $38.50.

Chain Bridge Bancorp Stock Performance

CBNA opened at $43.80 on Tuesday. The stock has a market capitalization of $287.33 million, a PE ratio of 13.23 and a beta of 0.23. Chain Bridge Bancorp has a one year low of $25.39 and a one year high of $45.26. The business’s 50 day moving average price is $37.31 and its 200 day moving average price is $35.99.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CBNA. Bank of America Corp DE boosted 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 buying an additional 293 shares during the period. Renaissance Technologies LLC lifted its stake in 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 in the last quarter. State Street Corp lifted its stake in Chain Bridge Bancorp by 2.2% during the 4th quarter. State Street Corp now owns 18,889 shares of the company’s stock worth $654,000 after acquiring an additional 400 shares in the last quarter. Barclays PLC lifted its stake in Chain Bridge Bancorp by 9.1% during the 4th quarter. Barclays PLC now owns 6,303 shares of the company’s stock worth $218,000 after acquiring an additional 525 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Chain Bridge Bancorp by 49.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock valued at $85,000 after acquiring an additional 815 shares during the period.

Chain Bridge Bancorp Company Profile

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.