Chain Bridge Bancorp (NYSE:CBNA) Director Mark Martinelli Acquires 400 Shares of Stock

Chain Bridge Bancorp, Inc. (NYSE:CBNA) Director Mark Martinelli bought 400 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were acquired at an average cost of $44.00 per share, for a total transaction of $17,600.00. Following the completion of the transaction, the director owned 3,000 shares of the company’s stock, valued at approximately $132,000. The trade was a 15.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Chain Bridge Bancorp Stock Down 0.3%

Shares of NYSE CBNA opened at $45.51 on Friday. Chain Bridge Bancorp, Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $46.90. The business has a 50 day moving average price of $39.95 and a two-hundred day moving average price of $37.07. The firm has a market cap of $298.60 million, a PE ratio of 11.21 and a beta of 0.24.

Chain Bridge Bancorp (NYSE:CBNA) last announced its earnings results on Tuesday, July 28th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.21. Chain Bridge Bancorp had a return on equity of 15.75% and a net margin of 38.64%.The company had revenue of $20.00 million for the quarter, compared to analyst estimates of $18.98 million. On average, analysts anticipate that Chain Bridge Bancorp, Inc. will post 4.93 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Zacks Research lowered shares of Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Wall Street Zen cut shares of Chain Bridge Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday. Hovde Group lifted their price target on Chain Bridge Bancorp from $38.00 to $39.50 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Chain Bridge Bancorp in a research note on Wednesday. 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 MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $38.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CBNA. Acadian Asset Management LLC bought a new stake in shares of Chain Bridge Bancorp during the 1st quarter valued at about $131,000. Geode Capital Management LLC lifted its holdings in Chain Bridge Bancorp by 115.3% in 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 during the last quarter. JPMorgan Chase & Co. bought a new position in Chain Bridge Bancorp in the second quarter worth about $29,000. Russell Investments Group Ltd. acquired a new position in Chain Bridge Bancorp in the second quarter valued at approximately $37,000. Finally, New York State Common Retirement Fund bought a new position in shares of Chain Bridge Bancorp during 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.