Magnolia Private Wealth LLC Takes $1.13 Million Position in Chain Bridge Bancorp, Inc. $CBNA

Magnolia Private Wealth LLC purchased a new stake in shares of Chain Bridge Bancorp, Inc. (NYSE:CBNA) in the fourth quarter, Holdings Channel reports. The firm purchased 32,640 shares of the company’s stock, valued at approximately $1,131,000.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new position in Chain Bridge Bancorp in the second quarter worth about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Chain Bridge Bancorp during the 2nd quarter valued at approximately $33,000. Russell Investments Group Ltd. purchased a new position in shares of Chain Bridge Bancorp during the 2nd quarter worth approximately $37,000. New York State Common Retirement Fund bought a new position in shares of Chain Bridge Bancorp in the 2nd quarter worth approximately $101,000. Finally, Acadian Asset Management LLC bought a new position in shares of Chain Bridge Bancorp in the 1st quarter worth approximately $131,000.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CBNA. Hovde Group lifted their price target 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. Piper Sandler assumed coverage on shares of Chain Bridge Bancorp in a report on Monday, March 16th. They set a “neutral” rating and a $39.00 target price on the stock. Weiss Ratings upgraded shares of Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Finally, Zacks Research upgraded shares of Chain Bridge Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Chain Bridge Bancorp has a consensus rating of “Hold” and an average target price of $38.50.

Chain Bridge Bancorp Stock Performance

Shares of CBNA stock opened at $37.03 on Friday. The company has a market capitalization of $242.88 million, a price-to-earnings ratio of 11.19 and a beta of 0.45. Chain Bridge Bancorp, Inc. has a one year low of $23.76 and a one year high of $38.50. The company’s 50-day moving average is $36.04 and its 200 day moving average is $34.68.

Chain Bridge Bancorp (NYSE:CBNA) last issued its earnings results on Tuesday, April 28th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.13. The business had revenue of $17.37 million during the quarter, compared to analysts’ expectations of $15.49 million. Chain Bridge Bancorp had a net margin of 35.09% and a return on equity of 13.07%. As a group, research analysts predict that Chain Bridge Bancorp, Inc. will post 4.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider James R. Pollock acquired 714 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was bought at an average cost of $35.25 per share, for a total transaction of $25,168.50. Following the acquisition, the insider directly owned 3,845 shares in the company, valued at approximately $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. 25.43% of the stock is currently owned by insiders.

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.