Wall Street Zen Upgrades Chain Bridge Bancorp (NYSE:CBNA) to Buy

Chain Bridge Bancorp (NYSE:CBNA) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Other equities research analysts have also recently issued reports about the company. Piper Sandler upped their target price on Chain Bridge Bancorp from $39.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Zacks Research lowered Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Hovde Group lifted their price objective on Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a “market perform” rating in a report on Monday, May 4th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Chain Bridge Bancorp in a research note on Wednesday, July 29th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $42.17.

Chain Bridge Bancorp Price Performance

Shares of CBNA stock opened at $47.11 on Friday. The company has a market capitalization of $309.04 million, a P/E ratio of 11.60 and a beta of 0.21. The company’s 50-day simple moving average is $41.26 and its two-hundred day simple moving average is $37.72. Chain Bridge Bancorp has a one year low of $26.26 and a one year high of $49.07.

Chain Bridge Bancorp (NYSE:CBNA) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.21. The firm had revenue of $20.00 million during the quarter, compared to the consensus estimate of $18.98 million. Chain Bridge Bancorp had a net margin of 38.64% and a return on equity of 15.75%. On average, research analysts expect that Chain Bridge Bancorp will post 5.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CBNA. Militia Capital Management LLC purchased a new stake in shares of Chain Bridge Bancorp during the first quarter valued at about $593,000. Bank of America Corp DE grew its position in shares of Chain Bridge Bancorp by 3.1% in the 1st 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 last quarter. Quantinno Capital Management LP bought a new position in shares of Chain Bridge Bancorp during the 1st quarter worth approximately $323,000. Renaissance Technologies LLC raised its stake in shares of Chain Bridge Bancorp by 2.7% during the 1st quarter. Renaissance Technologies LLC now owns 15,200 shares of the company’s stock worth $530,000 after acquiring an additional 400 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Chain Bridge Bancorp during the first quarter valued at approximately $647,000.

Chain Bridge Bancorp Company Profile

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.