Chain Bridge Bancorp, Inc. (NYSE:CBNA) Sees Significant Increase in Short Interest

Chain Bridge Bancorp, Inc. (NYSE:CBNA) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 77,183 shares, a growth of 140.6% from the July 30th total of 32,079 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average daily volume of 26,113 shares, the short-interest ratio is presently 3.0 days.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CBNA shares. Hovde Group upped their price objective on Chain Bridge Bancorp from $38.00 to $39.50 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Piper Sandler increased their price target on Chain Bridge Bancorp from $39.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Wall Street Zen upgraded Chain Bridge Bancorp from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Weiss Ratings raised shares of Chain Bridge Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Finally, Zacks Research cut shares of Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Chain Bridge Bancorp presently has an average rating of “Hold” and a consensus target price of $42.17.

Hedge Funds Weigh In On Chain Bridge Bancorp

A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new position in Chain Bridge Bancorp in the 2nd quarter valued at $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Chain Bridge Bancorp during the 2nd quarter valued at $33,000. California State Teachers Retirement System raised its stake in Chain Bridge Bancorp by 1,005.1% in the 2nd quarter. California State Teachers Retirement System now owns 1,304 shares of the company’s stock valued at $55,000 after purchasing an additional 1,186 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Chain Bridge Bancorp during the second quarter worth approximately $37,000. Finally, Wells Fargo & Company MN grew its position in shares of Chain Bridge Bancorp by 49.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock valued at $85,000 after purchasing an additional 815 shares during the period.

Chain Bridge Bancorp Trading Up 0.4%

Chain Bridge Bancorp stock traded up $0.18 during midday trading on Friday, hitting $45.66. 12,073 shares of the stock were exchanged, compared to its average volume of 9,921. The stock has a market capitalization of $299.62 million, a price-to-earnings ratio of 11.25 and a beta of 0.21. The stock’s 50-day simple moving average is $43.70 and its 200 day simple moving average is $38.78. Chain Bridge Bancorp has a fifty-two week low of $28.10 and a fifty-two week high of $49.13.

Chain Bridge Bancorp (NYSE:CBNA) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.21. The firm had revenue of $20.00 million for the quarter, compared to analyst estimates of $18.98 million. Chain Bridge Bancorp had a net margin of 38.64% and a return on equity of 15.42%. Equities analysts anticipate that Chain Bridge Bancorp will post 5.13 EPS for the current fiscal year.

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.