Chain Bridge Bancorp (NYSE:CBNA) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Chain Bridge Bancorp (NYSE:CBNA) to a buy rating in a research report released on Saturday.

Several other brokerages have also recently weighed in on CBNA. Hovde Group raised their price objective on Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a “market perform” rating in a report on Monday, May 4th. Zacks Research lowered Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings raised Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $38.50.

Chain Bridge Bancorp Trading Down 1.0%

Shares of CBNA opened at $42.05 on Friday. The stock has a market capitalization of $275.88 million, a price-to-earnings ratio of 12.71 and a beta of 0.24. Chain Bridge Bancorp has a 12 month low of $25.64 and a 12 month high of $45.26. The firm has a fifty day simple moving average of $38.78 and a 200 day simple moving average of $36.47.

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

Institutional Investors Weigh In On Chain Bridge Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new position in Chain Bridge Bancorp during the second quarter worth about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Chain Bridge Bancorp during the second quarter worth approximately $33,000. Russell Investments Group Ltd. bought a new stake in Chain Bridge Bancorp in the second quarter valued at approximately $37,000. Wells Fargo & Company MN lifted its position in shares of Chain Bridge Bancorp by 49.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock valued at $85,000 after buying an additional 815 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Chain Bridge Bancorp in the second quarter valued at approximately $101,000.

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.