Chain Bridge Bancorp (NYSE:CBNA) Stock Dropped to “Hold” by Zacks Research

Zacks Research downgraded shares of Chain Bridge Bancorp (NYSE:CBNA) from a strong-buy rating to a hold rating in a report published on Thursday morning,Zacks reports.

A number of other research firms have also weighed in on CBNA. Wall Street Zen lowered shares of Chain Bridge Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 12th. Raymond James Financial upgraded shares of Chain Bridge Bancorp from a “market perform” rating to an “outperform” rating and set a $53.00 price objective on the stock in a research report on Tuesday, October 6th. Piper Sandler lifted their target price on shares of Chain Bridge Bancorp from $39.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings raised shares of Chain Bridge Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $47.50.

Chain Bridge Bancorp Stock Up 1.4%

NYSE:CBNA traded up $0.68 during mid-day trading on Thursday, hitting $50.74. 51,513 shares of the company traded hands, compared to its average volume of 16,984. The stock’s fifty day moving average price is $48.35 and its 200-day moving average price is $40.94. The firm has a market cap of $332.85 million, a price-to-earnings ratio of 10.15 and a beta of 0.16. Chain Bridge Bancorp has a one year low of $28.14 and a one year high of $54.11.

Chain Bridge Bancorp (NYSE:CBNA) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The company had revenue of $22.78 million during the quarter, compared to the consensus estimate of $22.05 million. Chain Bridge Bancorp had a return on equity of 18.68% and a net margin of 42.06%. Equities analysts predict that Chain Bridge Bancorp will post 5.08 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CBNA. Russell Investments Group Ltd. grew its holdings in Chain Bridge Bancorp by 194.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,021 shares of the company’s stock valued at $185,000 after buying an additional 2,656 shares in the last quarter. Schwartz Investment Counsel Inc. purchased a new position in Chain Bridge Bancorp during the third quarter valued at $215,000. Hingham Institution for Savings grew its stake in Chain Bridge Bancorp by 0.6% during the third quarter. Hingham Institution for Savings now owns 336,137 shares of the company’s stock valued at $15,489,000 after acquiring an additional 2,000 shares in the last quarter. Militia Capital Management LLC purchased a new position in Chain Bridge Bancorp during the first quarter valued at $593,000. Finally, Bank of America Corp DE increased its holdings in 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 valued at $337,000 after acquiring an additional 293 shares during the last quarter.

Chain Bridge Bancorp Company Profile

Chain Bridge Bancorp, Inc is a bank holding company for Chain Bridge Bank, National Association, a community-focused financial institution headquartered in McLean, Virginia. Founded in 2007, the bank provides commercial banking and financial services to businesses, nonprofit organizations, associations, political organizations and high-net-worth individuals.

Chain Bridge Bank offers deposit accounts, commercial and personal lending, treasury management, cash management and online banking services.