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

Chain Bridge Bancorp (NYSE:CBNA) issued its earnings results on Wednesday. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02, Zacks reports. The firm had revenue of $14.70 million during the quarter, compared to analyst estimates of $13.66 million. Chain Bridge Bancorp had a net margin of 32.83% and a return on equity of 12.10%.

Chain Bridge Bancorp Stock Performance

Shares of CBNA stock opened at $32.79 on Thursday. The company has a market capitalization of $215.09 million, a PE ratio of 11.46 and a beta of 0.47. Chain Bridge Bancorp has a 52-week low of $20.01 and a 52-week high of $38.42. The business’s fifty day moving average is $33.90 and its 200 day moving average is $31.12.

Institutional Trading of Chain Bridge Bancorp

Several institutional investors and hedge funds have recently modified their holdings of CBNA. JPMorgan Chase & Co. bought a new stake in shares of Chain Bridge Bancorp during the 2nd quarter valued at about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Chain Bridge Bancorp in the second quarter valued at approximately $33,000. Russell Investments Group Ltd. bought a new stake in Chain Bridge Bancorp during the second quarter valued at approximately $37,000. Cannell Capital LLC grew its stake in Chain Bridge Bancorp by 17.3% in the 2nd quarter. Cannell Capital LLC now owns 18,145 shares of the company’s stock worth $468,000 after buying an additional 2,673 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in Chain Bridge Bancorp in the 2nd quarter worth approximately $101,000.

Wall Street Analyst Weigh In

Several research firms have issued reports on CBNA. Zacks Research downgraded Chain Bridge Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 30th. Raymond James Financial lowered Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Chain Bridge Bancorp in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $33.00.

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.