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

Zacks Research cut shares of Chain Bridge Bancorp (NYSE:CBNA) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Chain Bridge Bancorp in a research report on Friday, March 27th. Piper Sandler started coverage on Chain Bridge Bancorp in a research report on Monday, March 16th. They issued a “neutral” rating and a $39.00 target price for the company. Finally, Raymond James Financial lowered Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, January 7th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $38.00.

Chain Bridge Bancorp Trading Down 1.5%

Shares of CBNA opened at $35.56 on Tuesday. The firm has a market cap of $233.34 million, a price-to-earnings ratio of 11.55 and a beta of 0.48. The stock has a 50 day moving average of $35.56 and a 200-day moving average of $33.80. Chain Bridge Bancorp has a 52 week low of $22.84 and a 52 week high of $38.42.

Chain Bridge Bancorp (NYSE:CBNA) last issued its earnings results on Wednesday, January 28th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.79 by $0.02. The company had revenue of $14.69 million during the quarter, compared to analyst estimates of $13.66 million. Chain Bridge Bancorp had a return on equity of 12.63% and a net margin of 34.11%. On average, sell-side analysts predict that Chain Bridge Bancorp will post 2.22 earnings per share for the current fiscal year.

Insider Activity

In related news, insider James R. Pollock purchased 714 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were acquired at an average price of $35.25 per share, with a total value of $25,168.50. Following the acquisition, the insider owned 3,845 shares in the company, valued at approximately $135,536.25. This trade represents a 22.80% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 25.85% of the company’s stock.

Institutional Trading of Chain Bridge Bancorp

Hedge funds have recently made changes to their positions in the stock. Royce & Associates LP lifted its holdings in shares of Chain Bridge Bancorp by 80.4% in the 3rd quarter. Royce & Associates LP now owns 245,721 shares of the company’s stock worth $8,042,000 after purchasing an additional 109,495 shares during the last quarter. Cannell Capital LLC lifted its holdings in shares of Chain Bridge Bancorp by 239.5% in the 3rd quarter. Cannell Capital LLC now owns 61,609 shares of the company’s stock worth $2,016,000 after purchasing an additional 43,464 shares during the last quarter. Militia Capital Partners LP bought a new stake in shares of Chain Bridge Bancorp in the 3rd quarter worth approximately $556,000. GSA Capital Partners LLP bought a new stake in shares of Chain Bridge Bancorp in the 3rd quarter worth approximately $304,000. Finally, SPC Financial Inc. bought a new stake in shares of Chain Bridge Bancorp in the 3rd quarter worth approximately $250,000.

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.