Chain Bridge Bancorp, Inc. (NYSE:CBNA) Receives $38.50 Consensus Price Target from Brokerages

Chain Bridge Bancorp, Inc. (NYSE:CBNA) has received a consensus recommendation of “Reduce” from the five analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $38.50.

CBNA has been the topic of a number of recent research reports. Weiss Ratings raised Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Zacks Research lowered Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Wall Street Zen upgraded Chain Bridge Bancorp to a “buy” rating in a report on Saturday. Finally, Hovde Group raised their price target 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.

Hedge Funds Weigh In On Chain Bridge Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new position in shares of Chain Bridge Bancorp during the second quarter valued at approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Chain Bridge Bancorp in the second quarter worth $33,000. Russell Investments Group Ltd. purchased a new stake in Chain Bridge Bancorp in the second quarter worth $37,000. Wells Fargo & Company MN boosted its holdings in 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 acquiring an additional 815 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in Chain Bridge Bancorp in the second quarter valued at $101,000.

Chain Bridge Bancorp Trading Down 2.0%

Shares of NYSE CBNA opened at $41.09 on Friday. Chain Bridge Bancorp has a 12 month low of $25.64 and a 12 month high of $45.26. The firm has a market capitalization of $269.52 million, a price-to-earnings ratio of 12.41 and a beta of 0.24. The business has a 50-day moving average of $38.86 and a 200-day moving average of $36.53.

Chain Bridge Bancorp (NYSE:CBNA) last released its earnings results on Tuesday, April 28th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.13. Chain Bridge Bancorp had a return on equity of 13.07% and a net margin of 35.09%.The business had revenue of $17.37 million for the quarter, compared to analysts’ expectations of $15.49 million. On average, analysts predict that Chain Bridge Bancorp will post 4.93 earnings per share for the current 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.