Chain Bridge Bancorp (NYSE:CBNA) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Chain Bridge Bancorp (NYSE:CBNA) announced its quarterly earnings results on Wednesday. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04, FiscalAI reports. The business had revenue of $22.78 million during the quarter, compared to the consensus estimate of $22.05 million. Chain Bridge Bancorp had a return on equity of 15.42% and a net margin of 38.64%.

Chain Bridge Bancorp Trading Down 1.3%

Shares of CBNA stock traded down $0.67 during trading on Wednesday, hitting $50.69. The company’s stock had a trading volume of 12,980 shares, compared to its average volume of 11,683. The company has a market cap of $332.61 million, a PE ratio of 12.48 and a beta of 0.22. The business has a fifty day moving average of $47.60 and a 200-day moving average of $40.23. Chain Bridge Bancorp has a 52 week low of $28.14 and a 52 week high of $54.11.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CBNA. Weiss Ratings upgraded Chain Bridge Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of Chain Bridge Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 12th. Zacks Research upgraded shares of Chain Bridge Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Raymond James Financial upgraded shares of Chain Bridge Bancorp from a “market perform” rating to an “outperform” rating and set a $53.00 target price for the company in a report on Tuesday, October 6th. Finally, Piper Sandler raised 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 report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Chain Bridge Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

About Chain Bridge Bancorp

Chain Bridge Bancorp, Inc is a bank holding company for Chain Bridge Bank, National Association, a community-focused financial institution headquartered in McLean, Virginia. Founded in 2007, the bank provides commercial banking and financial services to businesses, nonprofit organizations, associations, political organizations and high-net-worth individuals.

Chain Bridge Bank offers deposit accounts, commercial and personal lending, treasury management, cash management and online banking services.