Chain Bridge Bancorp (NYSE:CBNA) Announces Earnings Results

Chain Bridge Bancorp (NYSE:CBNA) announced its earnings results on Tuesday. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.13, FiscalAI reports. The business had revenue of $17.37 million for the quarter, compared to the consensus estimate of $15.49 million. Chain Bridge Bancorp had a net margin of 34.11% and a return on equity of 12.63%.

Chain Bridge Bancorp Trading Up 2.7%

NYSE CBNA opened at $35.99 on Wednesday. The company’s 50-day moving average price is $35.49 and its 200-day moving average price is $34.01. The stock has a market cap of $236.06 million, a PE ratio of 11.68 and a beta of 0.48. Chain Bridge Bancorp has a 12 month low of $23.62 and a 12 month high of $38.42.

Wall Street Analyst Weigh In

Several brokerages recently commented on CBNA. Weiss Ratings reiterated a “sell (d)” rating on shares of Chain Bridge Bancorp in a report on Friday, March 27th. Piper Sandler began coverage on shares of Chain Bridge Bancorp in a research note on Monday, March 16th. They issued a “neutral” rating and a $39.00 price objective for the company. Zacks Research lowered Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Raymond James Financial cut Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, January 7th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $38.00.

Insiders Place Their Bets

In related news, insider James R. Pollock acquired 714 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was bought at an average price of $35.25 per share, for a total transaction of $25,168.50. Following the acquisition, the insider directly owned 3,845 shares of the company’s stock, valued at $135,536.25. This represents a 22.80% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 25.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Chain Bridge Bancorp

A number of hedge funds have recently added to or reduced their stakes in CBNA. State Street Corp raised its stake in shares of Chain Bridge Bancorp by 2.2% during the fourth quarter. State Street Corp now owns 18,889 shares of the company’s stock valued at $654,000 after acquiring an additional 400 shares in the last quarter. Barclays PLC grew its stake in Chain Bridge Bancorp by 9.1% in the fourth quarter. Barclays PLC now owns 6,303 shares of the company’s stock worth $218,000 after purchasing an additional 525 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Chain Bridge Bancorp by 49.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock worth $85,000 after purchasing an additional 815 shares during the period. JPMorgan Chase & Co. purchased a new position in Chain Bridge Bancorp during the 2nd quarter worth $29,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Chain Bridge Bancorp during the 2nd quarter valued at $33,000.

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.