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

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

A number of other analysts have also weighed in on CBNA. Weiss Ratings upgraded shares of Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Piper Sandler started coverage on shares of Chain Bridge Bancorp in a report on Monday, March 16th. They set a “neutral” rating and a $39.00 target price for the company. Finally, Hovde Group increased their target price on shares of Chain Bridge Bancorp from $38.00 to $39.50 and gave the stock a “market perform” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.50.

Chain Bridge Bancorp Trading Up 0.2%

Chain Bridge Bancorp stock opened at $37.37 on Tuesday. The firm has a 50-day moving average of $36.00 and a 200-day moving average of $34.63. The firm has a market cap of $245.15 million, a P/E ratio of 11.29 and a beta of 0.45. Chain Bridge Bancorp has a 1-year low of $23.76 and a 1-year high of $38.50.

Chain Bridge Bancorp (NYSE:CBNA) last posted its earnings results on Tuesday, April 28th. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. The company had revenue of $17.37 million during the quarter, compared to analyst estimates of $15.49 million. Chain Bridge Bancorp had a net margin of 35.09% and a return on equity of 13.07%. Research analysts forecast that Chain Bridge Bancorp will post 4.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider James R. Pollock acquired 714 shares of the stock in a transaction on Thursday, March 5th. The stock was acquired at an average cost of $35.25 per share, for a total transaction of $25,168.50. Following the completion of the acquisition, the insider directly owned 3,845 shares of the company’s stock, valued at approximately $135,536.25. This represents a 22.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 25.43% of the stock is owned by company insiders.

Institutional Trading of Chain Bridge Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE lifted its holdings in 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 worth $337,000 after buying an additional 293 shares during the period. Quantinno Capital Management LP purchased a new stake in Chain Bridge Bancorp in the first quarter worth about $323,000. Renaissance Technologies LLC lifted 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 worth $530,000 after buying an additional 400 shares during the period. Militia Capital Management LLC purchased a new stake in Chain Bridge Bancorp in the first quarter worth about $593,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Chain Bridge Bancorp in the first quarter worth about $647,000.

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.