Chain Bridge Bancorp (NYSE:CBNA) Stock Rating Lowered by Zacks Research

Chain Bridge Bancorp (NYSE:CBNA) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

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

Chain Bridge Bancorp Stock Performance

NYSE CBNA opened at $35.56 on Tuesday. The business has a fifty day moving average price of $35.56 and a 200 day moving average price of $33.80. The company has a market cap of $233.34 million, a P/E ratio of 11.55 and a beta of 0.48. Chain Bridge Bancorp has a one year low of $22.84 and a one year high of $38.42.

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

Insider Buying and Selling at Chain Bridge Bancorp

In other news, insider James R. Pollock acquired 714 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was purchased at an average cost of $35.25 per share, for a total transaction of $25,168.50. Following the completion of the transaction, the insider owned 3,845 shares in the company, valued at approximately $135,536.25. This trade represents a 22.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 25.85% of the company’s stock.

Institutional Trading of Chain Bridge Bancorp

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