Chain Bridge Bancorp (NYSE:CBNA) Raised to “Hold” at Zacks Research

Chain Bridge Bancorp (NYSE:CBNA) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other research analysts have also recently commented on CBNA. Raymond James Financial cut shares of Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Chain Bridge Bancorp in a research note on Monday, December 29th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Chain Bridge Bancorp has an average rating of “Reduce” and an average price target of $33.00.

Chain Bridge Bancorp Price Performance

CBNA opened at $33.92 on Wednesday. The business has a fifty day moving average price of $33.97 and a 200 day moving average price of $31.14. Chain Bridge Bancorp has a 12 month low of $20.01 and a 12 month high of $38.42. The stock has a market capitalization of $222.48 million, a price-to-earnings ratio of 11.01 and a beta of 0.47.

Chain Bridge Bancorp (NYSE:CBNA) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.02. Chain Bridge Bancorp had a return on equity of 12.88% and a net margin of 34.11%.The business had revenue of $14.70 million during the quarter, compared to analysts’ expectations of $13.66 million. On average, research analysts anticipate that Chain Bridge Bancorp will post 2.22 earnings per share for the current year.

Institutional Investors Weigh In On Chain Bridge Bancorp

Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new position in shares of Chain Bridge Bancorp during the second quarter worth approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Chain Bridge Bancorp during the 2nd quarter worth $33,000. Russell Investments Group Ltd. acquired a new stake in Chain Bridge Bancorp during the 2nd quarter worth $37,000. Elevation Point Wealth Partners LLC purchased a new position in Chain Bridge Bancorp during the 2nd quarter worth $53,000. Finally, New York State Common Retirement Fund acquired a new position in Chain Bridge Bancorp in the second quarter valued at $101,000.

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.