Chain Bridge Bancorp (NYSE:CBNA) Stock Moved Up to Strong-Buy by Zacks Research

Zacks Research upgraded shares of Chain Bridge Bancorp (NYSE:CBNA) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday,Zacks reports.

Several other brokerages have also issued reports on CBNA. Weiss Ratings upgraded shares of Chain Bridge Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Raymond James Financial upgraded shares of Chain Bridge Bancorp from a “market perform” rating to an “outperform” rating and set a $53.00 price target for the company in a research report on Tuesday. Piper Sandler boosted their price target on shares of Chain Bridge Bancorp from $39.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of Chain Bridge Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, October 4th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Chain Bridge Bancorp Stock Performance

CBNA stock opened at $49.52 on Wednesday. Chain Bridge Bancorp has a one year low of $28.10 and a one year high of $50.99. The firm has a market cap of $324.82 million, a PE ratio of 12.20 and a beta of 0.22. The firm’s 50 day moving average price is $46.96 and its 200-day moving average price is $41.23.

Chain Bridge Bancorp (NYSE:CBNA) last posted its earnings results on Tuesday, July 28th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.21. Chain Bridge Bancorp had a return on equity of 15.42% and a net margin of 38.64%.The company had revenue of $20.00 million for the quarter, compared to the consensus estimate of $18.98 million. Equities research analysts predict that Chain Bridge Bancorp will post 5.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quantinno Capital Management LP purchased a new stake in Chain Bridge Bancorp during the 1st quarter worth approximately $323,000. Bank of America Corp DE raised its stake 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 valued at $337,000 after acquiring an additional 293 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Chain Bridge Bancorp by 2.7% in the first quarter. Renaissance Technologies LLC now owns 15,200 shares of the company’s stock valued at $530,000 after purchasing an additional 400 shares during the period. Militia Capital Management LLC acquired a new position in Chain Bridge Bancorp during the 1st quarter worth $593,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Chain Bridge Bancorp during the 1st quarter worth $647,000.

About Chain Bridge Bancorp

Chain Bridge Bancorp, Inc is the bank holding company for Chain Bridge Bank, National Association, a full-service commercial bank headquartered in McLean, Virginia. The company provides banking and financial services to businesses, nonprofit organizations, associations, political organizations, and individuals.

Chain Bridge Bank offers deposit accounts, commercial and consumer lending, cash management, treasury services, online banking, and other customized financial solutions. Its services are designed to support operating, payment, borrowing, and liquidity needs for organizations and privately held businesses, as well as personal banking needs for individuals and families.

Founded in 2007, the company primarily serves clients in the Washington, DC, metropolitan area and provides specialized banking services to organizations and customers located across the United States.