Short Interest in Chain Bridge Bancorp, Inc. (NYSE:CBNA) Increases By 140.6%

Chain Bridge Bancorp, Inc. (NYSE:CBNA) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 77,183 shares, an increase of 140.6% from the July 30th total of 32,079 shares. Based on an average trading volume of 26,113 shares, the days-to-cover ratio is currently 3.0 days. Approximately 1.6% of the shares of the stock are short sold.

Chain Bridge Bancorp Stock Performance

Shares of NYSE:CBNA traded up $0.23 during mid-day trading on Friday, reaching $45.71. 16,901 shares of the company’s stock were exchanged, compared to its average volume of 21,090. The firm has a market capitalization of $299.86 million, a price-to-earnings ratio of 11.26 and a beta of 0.21. The business’s fifty day moving average price is $43.83 and its 200-day moving average price is $38.83. Chain Bridge Bancorp has a twelve month low of $28.10 and a twelve month high of $49.13.

Chain Bridge Bancorp (NYSE:CBNA) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.21. The company had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $18.98 million. Chain Bridge Bancorp had a net margin of 38.64% and a return on equity of 15.42%. Analysts predict that Chain Bridge Bancorp will post 5.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Piper Sandler boosted their price objective 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. Zacks Research downgraded Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Wall Street Zen raised Chain Bridge Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Hovde Group boosted their price target on Chain Bridge Bancorp from $38.00 to $39.50 and gave the stock a “market perform” rating in a report on Monday, May 4th. Finally, Weiss Ratings raised Chain Bridge Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $42.17.

Institutional Investors Weigh In On Chain Bridge Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in shares of Chain Bridge Bancorp in the second quarter worth approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Chain Bridge Bancorp in the second quarter valued at approximately $33,000. Russell Investments Group Ltd. acquired a new stake in Chain Bridge Bancorp during the 2nd quarter valued at approximately $37,000. California State Teachers Retirement System increased its position in Chain Bridge Bancorp by 1,005.1% during the 2nd quarter. California State Teachers Retirement System now owns 1,304 shares of the company’s stock valued at $55,000 after purchasing an additional 1,186 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Chain Bridge Bancorp by 49.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock worth $85,000 after purchasing an additional 815 shares during the last quarter.

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.