Elevation Point Wealth Partners LLC Invests $647,000 in Chain Bridge Bancorp, Inc. $CBNA

Elevation Point Wealth Partners LLC bought a new stake in Chain Bridge Bancorp, Inc. (NYSE:CBNA) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,545 shares of the company’s stock, valued at approximately $647,000. Elevation Point Wealth Partners LLC owned about 0.28% of Chain Bridge Bancorp at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in shares of Chain Bridge Bancorp during the 2nd quarter worth about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Chain Bridge Bancorp in the second quarter worth $33,000. Russell Investments Group Ltd. acquired a new stake in shares of Chain Bridge Bancorp in the second quarter worth $37,000. Wells Fargo & Company MN raised its stake in shares of Chain Bridge Bancorp by 49.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock valued at $85,000 after acquiring an additional 815 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in shares of Chain Bridge Bancorp during the 2nd quarter valued at $101,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Piper Sandler started coverage on Chain Bridge Bancorp in a report on Monday, March 16th. They issued a “neutral” rating and a $39.00 price target for the company. Hovde Group increased their target price on Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a “market perform” rating in a research note on Monday, May 4th. Weiss Ratings upgraded Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Finally, Zacks Research cut Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $38.50.

Chain Bridge Bancorp Trading Down 2.8%

CBNA stock opened at $42.18 on Wednesday. The firm has a 50 day simple moving average of $37.96 and a 200-day simple moving average of $36.16. The company has a market capitalization of $276.79 million, a P/E ratio of 12.74 and a beta of 0.24. Chain Bridge Bancorp, Inc. has a twelve month low of $25.39 and a twelve month high of $45.26.

Chain Bridge Bancorp (NYSE:CBNA) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.13. The firm had revenue of $17.37 million during the quarter, compared to analyst estimates of $15.49 million. Chain Bridge Bancorp had a return on equity of 13.07% and a net margin of 35.09%. On average, research analysts predict that Chain Bridge Bancorp, Inc. will post 4.93 EPS for the current year.

Chain Bridge Bancorp 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.