Chain Bridge Bancorp (NYSE:CBNA) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Chain Bridge Bancorp (NYSE:CBNA) from a hold rating to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

Several other research firms have also recently commented on CBNA. Raymond James Financial cut Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, January 7th. Piper Sandler started coverage on Chain Bridge Bancorp in a research report on Monday. They issued a “neutral” rating and a $39.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Chain Bridge Bancorp in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $38.00.

Chain Bridge Bancorp Trading Down 3.9%

CBNA opened at $34.89 on Monday. The company has a fifty day simple moving average of $34.88 and a 200 day simple moving average of $33.20. The firm has a market cap of $228.85 million, a price-to-earnings ratio of 11.33 and a beta of 0.53. Chain Bridge Bancorp has a twelve month low of $20.01 and a twelve month high of $38.42.

Chain Bridge Bancorp (NYSE:CBNA) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. The firm had revenue of $14.70 million for the quarter, compared to analyst estimates of $13.66 million. Chain Bridge Bancorp had a net margin of 34.11% and a return on equity of 12.88%. On average, analysts forecast that Chain Bridge Bancorp will post 2.22 earnings per share for the current fiscal year.

Insider Transactions at Chain Bridge Bancorp

In other news, insider James R. Pollock bought 714 shares of Chain Bridge Bancorp stock in a transaction on Thursday, March 5th. The shares were bought at an average price of $35.25 per share, with a total value of $25,168.50. Following the acquisition, the insider directly owned 3,845 shares in the company, valued at approximately $135,536.25. This represents a 22.80% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 25.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Chain Bridge Bancorp

Several large investors have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Chain Bridge Bancorp by 2.2% during the fourth quarter. State Street Corp now owns 18,889 shares of the company’s stock worth $654,000 after purchasing an additional 400 shares during the period. Barclays PLC grew its position in shares of Chain Bridge Bancorp by 9.1% during the 4th quarter. Barclays PLC now owns 6,303 shares of the company’s stock valued at $218,000 after buying an additional 525 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Chain Bridge Bancorp by 49.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock valued at $85,000 after buying an additional 815 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Chain Bridge Bancorp during the second quarter worth about $29,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Chain Bridge Bancorp in the second quarter worth about $33,000.

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.