Zacks Research Upgrades Chain Bridge Bancorp (NYSE:CBNA) to “Strong-Buy”

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

CBNA has been the topic of a number of other reports. Raymond James Financial cut Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, January 7th. Piper Sandler assumed coverage on Chain Bridge Bancorp in a report on Monday. They set a “neutral” rating and a $39.00 target price for the company. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Chain Bridge Bancorp in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $38.00.

Chain Bridge Bancorp Stock Performance

Shares of Chain Bridge Bancorp stock opened at $34.89 on Monday. Chain Bridge Bancorp has a 52-week low of $20.01 and a 52-week high of $38.42. The stock has a market capitalization of $228.85 million, a price-to-earnings ratio of 11.33 and a beta of 0.53. The company has a fifty day moving average of $34.88 and a 200-day moving average of $33.20.

Chain Bridge Bancorp (NYSE:CBNA) last issued its earnings results on Wednesday, January 28th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. The company had revenue of $14.70 million for the quarter, compared to analysts’ expectations of $13.66 million. Chain Bridge Bancorp had a net margin of 34.11% and a return on equity of 12.88%. On average, equities research analysts forecast that Chain Bridge Bancorp will post 2.22 earnings per share for the current fiscal year.

Insider Transactions at Chain Bridge Bancorp

In other news, insider James R. Pollock purchased 714 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were acquired at an average price of $35.25 per share, with a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 25.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chain Bridge Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of CBNA. JPMorgan Chase & Co. purchased a new stake in shares of Chain Bridge Bancorp during the second quarter worth about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Chain Bridge Bancorp during the 2nd quarter valued at about $33,000. Russell Investments Group Ltd. purchased a new position in Chain Bridge Bancorp during the 2nd quarter valued at about $37,000. Elevation Point Wealth Partners LLC bought a new position in Chain Bridge Bancorp during the 2nd quarter valued at approximately $53,000. Finally, Wells Fargo & Company MN lifted its holdings in Chain Bridge Bancorp by 49.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock worth $85,000 after buying an additional 815 shares during the period.

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.