Chain Bridge Bancorp (NYSE:CBNA) Releases Earnings Results, Beats Expectations By $0.21 EPS

Chain Bridge Bancorp (NYSE:CBNA) issued its quarterly earnings data on Tuesday. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.24 by $0.21, FiscalAI reports. The company had revenue of $20.00 million during the quarter, compared to analyst estimates of $18.98 million. Chain Bridge Bancorp had a return on equity of 15.75% and a net margin of 38.64%.

Chain Bridge Bancorp Stock Up 2.2%

Shares of Chain Bridge Bancorp stock traded up $0.97 during trading on Thursday, reaching $45.34. The company’s stock had a trading volume of 4,459 shares, compared to its average volume of 8,277. Chain Bridge Bancorp has a 52-week low of $25.76 and a 52-week high of $46.90. The firm’s 50-day moving average is $39.61 and its two-hundred day moving average is $36.93. The company has a market cap of $297.40 million, a price-to-earnings ratio of 11.14 and a beta of 0.24.

Institutional Trading of Chain Bridge Bancorp

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new position in shares of Chain Bridge Bancorp during the second quarter valued at about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Chain Bridge Bancorp during the 2nd quarter valued at about $33,000. Russell Investments Group Ltd. purchased a new stake in Chain Bridge Bancorp during the 2nd quarter valued at about $37,000. Wells Fargo & Company MN grew its position in Chain Bridge Bancorp by 49.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock worth $85,000 after acquiring an additional 815 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new position in Chain Bridge Bancorp during the 2nd quarter worth approximately $101,000.

Analyst Ratings Changes

Several brokerages have issued reports on CBNA. Weiss Ratings upgraded shares of Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Wall Street Zen raised shares of Chain Bridge Bancorp to a “buy” rating in a report on Saturday, July 18th. Hovde Group raised their price objective on shares of 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, Zacks Research downgraded shares of Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $38.50.

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.