Zacks Research Downgrades Chain Bridge Bancorp (NYSE:CBNA) to Hold

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 issued on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on CBNA. Hovde Group upped 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. Piper Sandler initiated coverage on Chain Bridge Bancorp in a research note on Monday, March 16th. They set a “neutral” rating and a $39.00 price objective for the company. 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 equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $38.50.

Chain Bridge Bancorp Price Performance

NYSE:CBNA opened at $43.80 on Tuesday. The firm has a market capitalization of $287.33 million, a P/E ratio of 13.23 and a beta of 0.23. Chain Bridge Bancorp has a one year low of $25.39 and a one year high of $45.26. The company’s 50-day simple moving average is $37.31 and its 200 day simple moving average is $35.99.

Chain Bridge Bancorp (NYSE:CBNA) last announced its earnings results on Tuesday, April 28th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $17.37 million during the quarter, compared to the consensus estimate of $15.49 million. On average, equities research analysts expect that Chain Bridge Bancorp will post 4.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chain Bridge Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in CBNA. Hingham Institution for Savings bought a new position in Chain Bridge Bancorp in the 4th quarter valued at approximately $10,169,000. RMR Wealth Builders bought a new stake in shares of Chain Bridge Bancorp in the 4th quarter worth $1,341,000. Cannell Capital LLC increased its holdings in shares of Chain Bridge Bancorp by 239.5% in the 3rd quarter. Cannell Capital LLC now owns 61,609 shares of the company’s stock worth $2,016,000 after purchasing an additional 43,464 shares in the last quarter. Magnolia Private Wealth LLC bought a new stake in shares of Chain Bridge Bancorp in the 4th quarter worth $1,131,000. Finally, Militia Capital Partners LP purchased a new position in shares of Chain Bridge Bancorp in the third quarter worth $556,000.

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.