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

Chain Bridge Bancorp (NYSE:CBNA) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Weiss Ratings raised Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Hovde Group lifted their price objective 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. Finally, Piper Sandler initiated coverage on Chain Bridge Bancorp in a research report on Monday, March 16th. They set a “neutral” rating and a $39.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $38.50.

Chain Bridge Bancorp Trading Up 0.2%

CBNA opened at $37.37 on Tuesday. The stock has a market cap of $245.15 million, a price-to-earnings ratio of 11.29 and a beta of 0.45. Chain Bridge Bancorp has a 1 year low of $23.76 and a 1 year high of $38.50. The stock has a fifty day moving average price of $36.00 and a 200 day moving average price of $34.63.

Chain Bridge Bancorp (NYSE:CBNA) last released 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 analysts’ expectations of $15.49 million. Chain Bridge Bancorp had a return on equity of 13.07% and a net margin of 35.09%. As a group, sell-side analysts forecast that Chain Bridge Bancorp will post 4.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Chain Bridge Bancorp

In related news, insider James R. Pollock purchased 714 shares of Chain Bridge Bancorp stock in a transaction on Thursday, March 5th. The stock was bought at an average price of $35.25 per share, with a total value of $25,168.50. Following the completion of the transaction, the insider directly owned 3,845 shares of the company’s stock, valued at approximately $135,536.25. This represents a 22.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 25.43% of the stock is owned by corporate insiders.

Institutional Trading of Chain Bridge Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in shares of Chain Bridge Bancorp by 3.1% in the first quarter. Bank of America Corp DE now owns 9,661 shares of the company’s stock worth $337,000 after buying an additional 293 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Chain Bridge Bancorp in the first quarter worth about $323,000. Renaissance Technologies LLC lifted its position in shares of Chain Bridge Bancorp by 2.7% in the first quarter. Renaissance Technologies LLC now owns 15,200 shares of the company’s stock worth $530,000 after buying an additional 400 shares during the last quarter. Militia Capital Management LLC acquired a new stake in shares of Chain Bridge Bancorp in the first quarter worth about $593,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Chain Bridge Bancorp in the first quarter worth about $647,000.

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.