Chain Bridge Bancorp (NYSE:CBNA) Posts Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Chain Bridge Bancorp (NYSE:CBNA) announced its quarterly earnings data on Tuesday. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.21, FiscalAI reports. The business had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $18.98 million. Chain Bridge Bancorp had a return on equity of 15.75% and a net margin of 38.64%.

Chain Bridge Bancorp Stock Performance

CBNA traded up $0.74 on Thursday, reaching $45.10. The company had a trading volume of 4,111 shares, compared to its average volume of 8,271. Chain Bridge Bancorp has a 52-week low of $25.76 and a 52-week high of $46.90. The company has a market cap of $295.85 million, a price-to-earnings ratio of 11.11 and a beta of 0.24. The business has a 50 day simple moving average of $39.61 and a 200 day simple moving average of $36.93.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CBNA. Hovde Group upped their price target on shares of Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a “market perform” rating in a research note on Monday, May 4th. Zacks Research cut shares of Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Wall Street Zen upgraded Chain Bridge Bancorp to a “buy” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings raised Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $38.50.

Institutional Trading of Chain Bridge Bancorp

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Chain Bridge Bancorp by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 112,494 shares of the company’s stock valued at $3,682,000 after purchasing an additional 4,484 shares during the last quarter. Beartown Capital Management LLC bought a new position in Chain Bridge Bancorp during the fourth quarter valued at approximately $2,626,000. Geode Capital Management LLC raised its stake in shares of Chain Bridge Bancorp by 115.3% during the second quarter. Geode Capital Management LLC now owns 58,843 shares of the company’s stock worth $1,517,000 after acquiring an additional 31,510 shares in the last quarter. State Street Corp lifted its holdings in shares of Chain Bridge Bancorp by 2.2% in 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 during the last quarter. Finally, Pillsbury Lake Capital LLC bought a new stake in shares of Chain Bridge Bancorp in the 4th quarter worth approximately $633,000.

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.