Chain Bridge Bancorp, Inc. (NYSE:CBNA) Receives Consensus Rating of “Reduce” from Brokerages

Chain Bridge Bancorp, Inc. (NYSE:CBNA) has earned an average rating of “Reduce” from the five research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $38.50.

Several research firms recently weighed in on CBNA. Hovde Group lifted their target price 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. Wall Street Zen upgraded Chain Bridge Bancorp to a “buy” rating in a research report on Saturday. Zacks Research cut Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings raised Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 1st.

Chain Bridge Bancorp Trading Down 1.0%

CBNA opened at $42.05 on Friday. The firm’s 50 day simple moving average is $38.78 and its two-hundred day simple moving average is $36.47. The company has a market capitalization of $275.88 million, a PE ratio of 12.71 and a beta of 0.24. Chain Bridge Bancorp has a 1-year low of $25.64 and a 1-year high of $45.26.

Chain Bridge Bancorp (NYSE:CBNA) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.13. The firm had revenue of $17.37 million during the quarter, compared to the consensus estimate of $15.49 million. Chain Bridge Bancorp had a net margin of 35.09% and a return on equity of 13.07%. Equities analysts forecast 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 hedge funds and other institutional investors have recently added to or reduced their stakes in CBNA. Acadian Asset Management LLC bought a new stake in Chain Bridge Bancorp during the 1st quarter worth approximately $131,000. Geode Capital Management LLC lifted its holdings in Chain Bridge Bancorp by 115.3% during the second quarter. Geode Capital Management LLC now owns 58,843 shares of the company’s stock valued at $1,517,000 after purchasing 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 worth approximately $29,000. Russell Investments Group Ltd. bought a new position in shares of Chain Bridge Bancorp in the second quarter worth approximately $37,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Chain Bridge Bancorp in the second quarter worth $101,000.

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.