Chain Bridge Bancorp (NYSE:CBNA) Upgraded to “Hold” at Zacks Research

Chain Bridge Bancorp (NYSE:CBNA) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

CBNA has been the subject of several other reports. Raymond James Financial lowered Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chain Bridge Bancorp in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chain Bridge Bancorp has an average rating of “Reduce” and a consensus target price of $33.00.

Chain Bridge Bancorp Stock Up 2.3%

NYSE:CBNA opened at $33.92 on Wednesday. Chain Bridge Bancorp has a 52 week low of $20.01 and a 52 week high of $38.42. The company has a market cap of $222.48 million, a PE ratio of 11.01 and a beta of 0.47. The business’s 50 day moving average is $33.97 and its two-hundred day moving average is $31.14.

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

Institutional Trading of Chain Bridge Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in shares of Chain Bridge Bancorp during the second quarter valued at approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Chain Bridge Bancorp during the 2nd quarter valued at $33,000. Russell Investments Group Ltd. bought a new stake in shares of Chain Bridge Bancorp in the 2nd quarter worth $37,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Chain Bridge Bancorp in the 2nd quarter worth $53,000. Finally, New York State Common Retirement Fund bought a new position in Chain Bridge Bancorp during the second quarter valued at about $101,000.

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.