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

Zacks Research upgraded shares of Chain Bridge Bancorp (NYSE:CBNA) from a strong sell rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

A number of other brokerages have also weighed in on CBNA. Raymond James Financial lowered shares of Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, January 7th. Weiss Ratings restated a “sell (d)” rating on shares of Chain Bridge Bancorp in a research report on Monday, December 29th. Three investment 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, the stock currently has an average rating of “Reduce” and a consensus price target of $33.00.

Chain Bridge Bancorp Stock Performance

Shares of CBNA opened at $33.92 on Wednesday. Chain Bridge Bancorp has a one year low of $20.01 and a one year high of $38.42. The stock’s fifty day moving average is $33.97 and its 200-day moving average is $31.14. The firm has a market capitalization of $222.48 million, a price-to-earnings ratio of 11.01 and a beta of 0.47.

Chain Bridge Bancorp (NYSE:CBNA) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.02. The business had revenue of $14.70 million during the quarter, compared to the consensus estimate of $13.66 million. Chain Bridge Bancorp had a net margin of 34.11% and a return on equity of 12.88%. Analysts forecast that Chain Bridge Bancorp will post 2.22 EPS for the current fiscal year.

Institutional Trading of Chain Bridge Bancorp

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in Chain Bridge Bancorp in the second quarter worth approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Chain Bridge Bancorp during the 2nd quarter worth $33,000. Russell Investments Group Ltd. acquired a new position in shares of Chain Bridge Bancorp in the 2nd quarter worth $37,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Chain Bridge Bancorp during the second quarter worth $53,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Chain Bridge Bancorp during the second quarter valued at $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.