Chain Bridge Bancorp (NYSE:CBNA) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Chain Bridge Bancorp to “Hold” from “Buy,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $47.50.
• CBNA shares opened at $49.24, near their 52-week high of $50.99. The company recently beat quarterly expectations, reporting $1.45 in EPS versus the $1.24 consensus and revenue of $20.0 million.
• Institutional investors have continued to show interest, including Hingham Institution for Savings, which increased its stake by 8.3%, while several other funds initiated positions.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Monday, Wall Street Zen reports.

Other analysts also recently issued reports about the stock. Zacks Research raised shares of Chain Bridge Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 7th. Raymond James Financial upgraded shares of Chain Bridge Bancorp from a "market perform" rating to an "outperform" rating and set a $53.00 price target for the company in a research report on Tuesday, October 6th. Piper Sandler raised their price objective on 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 Chain Bridge Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Chain Bridge Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $47.50.

Chain Bridge Bancorp Stock Performance

CBNA stock opened at $49.24 on Monday. The company has a market capitalization of $323.01 million, a PE ratio of 12.13 and a beta of 0.22. Chain Bridge Bancorp has a one year low of $28.10 and a one year high of $50.99. The company's 50 day moving average price is $47.03 and its two-hundred day moving average price is $41.32.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.21. Chain Bridge Bancorp had a net margin of 38.64% and a return on equity of 15.42%. The company had revenue of $20.00 million during the quarter, compared to analysts' expectations of $18.98 million. On average, research analysts predict that Chain Bridge Bancorp will post 5.20 EPS for the current year.

Institutional Trading of Chain Bridge Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of CBNA. Hingham Institution for Savings increased its stake in shares of Chain Bridge Bancorp by 8.3% in the second quarter. Hingham Institution for Savings now owns 334,137 shares of the company's stock worth $14,050,000 after buying an additional 25,525 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in Chain Bridge Bancorp during the 1st quarter valued at $647,000. Militia Capital Management LLC purchased a new stake in Chain Bridge Bancorp during the 1st quarter valued at $593,000. Bank of America Corp DE boosted its position in Chain Bridge Bancorp by 3.1% during the 1st quarter. Bank of America Corp DE now owns 9,661 shares of the company's stock valued at $337,000 after buying an additional 293 shares during the period. Finally, Quantinno Capital Management LP purchased a new stake in Chain Bridge Bancorp during the 1st quarter valued at $323,000.

About Chain Bridge Bancorp

Chain Bridge Bancorp, Inc is the bank holding company for Chain Bridge Bank, National Association, a full-service commercial bank headquartered in McLean, Virginia. The company provides banking and financial services to businesses, nonprofit organizations, associations, political organizations, and individuals.

Chain Bridge Bank offers deposit accounts, commercial and consumer lending, cash management, treasury services, online banking, and other customized financial solutions. Its services are designed to support operating, payment, borrowing, and liquidity needs for organizations and privately held businesses, as well as personal banking needs for individuals and families.

Founded in 2007, the company primarily serves clients in the Washington, DC, metropolitan area and provides specialized banking services to organizations and customers located across the United States.

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