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

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

A number of other brokerages have also issued reports on CBNA. Piper Sandler initiated coverage on Chain Bridge Bancorp in a research note on Monday, March 16th. They issued a “neutral” rating and a $39.00 price target on the stock. Hovde Group raised their price objective on Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a “market perform” rating in a report on Monday, May 4th. Finally, Weiss Ratings raised shares of Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $38.50.

Chain Bridge Bancorp Trading Up 4.2%

Shares of NYSE:CBNA opened at $43.80 on Tuesday. Chain Bridge Bancorp has a 12-month low of $25.39 and a 12-month high of $45.26. The company has a market capitalization of $287.33 million, a PE ratio of 13.23 and a beta of 0.23. The business has a 50 day moving average of $37.31 and a two-hundred day moving average of $35.99.

Chain Bridge Bancorp (NYSE:CBNA) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. The business had revenue of $17.37 million for the quarter, compared to analysts’ expectations of $15.49 million. Chain Bridge Bancorp had a net margin of 35.09% and a return on equity of 13.07%. Equities research analysts predict that Chain Bridge Bancorp will post 4.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chain Bridge Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBNA. JPMorgan Chase & Co. acquired a new stake in shares of Chain Bridge Bancorp in the 2nd quarter worth $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Chain Bridge Bancorp during the 2nd quarter worth $33,000. Russell Investments Group Ltd. acquired a new position in shares of Chain Bridge Bancorp during the 2nd quarter valued at about $37,000. Wells Fargo & Company MN grew its holdings in shares of Chain Bridge Bancorp by 49.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock valued at $85,000 after purchasing an additional 815 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in Chain Bridge Bancorp during the second quarter worth about $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.