Chain Bridge Bancorp, Inc. (NYSE:CBNA) Sees Large Increase in Short Interest

Chain Bridge Bancorp, Inc. (NYSE:CBNA) saw a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 32,988 shares, an increase of 49.0% from the February 12th total of 22,134 shares. Based on an average daily trading volume, of 4,934 shares, the days-to-cover ratio is presently 6.7 days. Approximately 0.7% of the company’s stock are short sold. Approximately 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 4,934 shares, the days-to-cover ratio is presently 6.7 days.

Chain Bridge Bancorp Stock Performance

Shares of CBNA opened at $35.15 on Friday. The stock has a 50-day moving average of $34.87 and a two-hundred day moving average of $33.04. The stock has a market cap of $230.66 million, a P/E ratio of 11.41 and a beta of 0.53. Chain Bridge Bancorp has a one year low of $20.01 and a one year high of $38.42.

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

Analyst Upgrades and Downgrades

CBNA has been the subject of several research analyst reports. Raymond James Financial lowered shares of Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, January 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Chain Bridge Bancorp in a research report on Monday, December 29th. Finally, Zacks Research upgraded shares of Chain Bridge Bancorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 28th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $33.00.

Insider Buying and Selling

In other Chain Bridge Bancorp news, insider James R. Pollock purchased 714 shares of the stock in a transaction on Thursday, March 5th. The stock was acquired at an average price of $35.25 per share, with a total value of $25,168.50. Following the completion of the acquisition, the insider owned 3,845 shares in the company, valued at $135,536.25. The trade was a 22.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 25.85% of the company’s stock.

Hedge Funds Weigh In On Chain Bridge Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new position in Chain Bridge Bancorp during the 1st quarter worth approximately $131,000. Geode Capital Management LLC lifted its stake in Chain Bridge Bancorp by 115.3% during the 2nd 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 during the period. JPMorgan Chase & Co. purchased a new stake in shares of Chain Bridge Bancorp in the 2nd quarter valued at $29,000. Russell Investments Group Ltd. acquired a new stake in shares of Chain Bridge Bancorp in the second quarter worth $37,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Chain Bridge Bancorp in the second quarter worth $53,000.

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.