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

Chain Bridge Bancorp (NYSE:CBNA) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday, Zacks reports.

A number of other equities research analysts also recently weighed in on CBNA. Wall Street Zen downgraded shares of Chain Bridge Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 12th. Piper Sandler upped their price target on Chain Bridge Bancorp from $39.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded Chain Bridge Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. Finally, Raymond James Financial raised Chain Bridge Bancorp from a “market perform” rating to an “outperform” rating and set a $53.00 price objective for the company in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Chain Bridge Bancorp presently has an average rating of “Hold” and a consensus price target of $47.50.

Chain Bridge Bancorp Price Performance

CBNA opened at $50.74 on Thursday. Chain Bridge Bancorp has a 1-year low of $28.14 and a 1-year high of $54.11. The company has a 50 day simple moving average of $48.35 and a two-hundred day simple moving average of $40.94. The firm has a market cap of $332.85 million, a P/E ratio of 10.30 and a beta of 0.16.

Chain Bridge Bancorp (NYSE:CBNA) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. Chain Bridge Bancorp had a net margin of 42.06% and a return on equity of 18.68%. The business had revenue of $22.78 million for the quarter, compared to the consensus estimate of $22.05 million. Equities analysts anticipate that Chain Bridge Bancorp will post 5.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hingham Institution for Savings raised its holdings in Chain Bridge Bancorp by 8.3% during the second quarter. Hingham Institution for Savings now owns 334,137 shares of the company’s stock worth $14,050,000 after purchasing an additional 25,525 shares in the last quarter. Militia Capital Management LLC bought a new stake in shares of Chain Bridge Bancorp in the first quarter valued at about $593,000. Quantinno Capital Management LP acquired a new stake in Chain Bridge Bancorp in the 1st quarter valued at about $323,000. Renaissance Technologies LLC increased its position in Chain Bridge Bancorp by 2.7% during the first quarter. Renaissance Technologies LLC now owns 15,200 shares of the company’s stock worth $530,000 after acquiring an additional 400 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Chain Bridge Bancorp by 194.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,021 shares of the company’s stock valued at $185,000 after purchasing an additional 2,656 shares during the last quarter.

Chain Bridge Bancorp Company Profile

Chain Bridge Bancorp, Inc is a bank holding company for Chain Bridge Bank, National Association, a community-focused financial institution headquartered in McLean, Virginia. Founded in 2007, the bank provides commercial banking and financial services to businesses, nonprofit organizations, associations, political organizations and high-net-worth individuals.

Chain Bridge Bank offers deposit accounts, commercial and personal lending, treasury management, cash management and online banking services.