Elevation Point Wealth Partners LLC Buys New Stake in Chain Bridge Bancorp, Inc. $CBNA

Elevation Point Wealth Partners LLC purchased a new position in Chain Bridge Bancorp, Inc. (NYSE:CBNA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,545 shares of the company’s stock, valued at approximately $647,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in Chain Bridge Bancorp during the 1st quarter valued at about $131,000. Geode Capital Management LLC boosted its holdings in shares of Chain Bridge Bancorp by 115.3% in the second quarter. Geode Capital Management LLC now owns 58,843 shares of the company’s stock valued at $1,517,000 after acquiring an additional 31,510 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Chain Bridge Bancorp in the second quarter valued at approximately $29,000. Russell Investments Group Ltd. acquired a new position in shares of Chain Bridge Bancorp during the second quarter valued at approximately $37,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Chain Bridge Bancorp during the second quarter valued at approximately $101,000.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CBNA shares. Weiss Ratings upgraded shares of Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Hovde Group increased their price objective on Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a “market perform” rating in a research report on Monday, May 4th. Zacks Research lowered Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Piper Sandler began 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. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $38.50.

Chain Bridge Bancorp Trading Down 2.8%

Shares of NYSE CBNA opened at $42.18 on Wednesday. Chain Bridge Bancorp, Inc. has a one year low of $25.39 and a one year high of $45.26. The business has a 50-day moving average price of $37.96 and a two-hundred day moving average price of $36.16. The firm has a market capitalization of $276.79 million, a PE ratio of 12.74 and a beta of 0.24.

Chain Bridge Bancorp (NYSE:CBNA) last issued 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. The company had revenue of $17.37 million for the quarter, compared to the consensus estimate of $15.49 million. Chain Bridge Bancorp had a return on equity of 13.07% and a net margin of 35.09%. Research analysts anticipate that Chain Bridge Bancorp, Inc. will post 4.93 EPS for the current year.

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.