Chain Bridge Bancorp (NYSE:CBNA) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Chain Bridge Bancorp from “strong buy” to “hold.” The stock’s consensus rating is also “hold,” with an average price target of $47.50.
• Analysts’ views are mixed: Raymond James upgraded the stock to “outperform” with a $53 target, while other firms maintained or moved to “hold” ratings.
• Chain Bridge Bancorp beat quarterly estimates, reporting EPS of $1.66 versus $1.62 expected and revenue of $22.78 million versus $22.05 million forecast.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Thursday, Zacks reports.

Several other brokerages have also commented on CBNA. Raymond James Financial raised Chain Bridge Bancorp from a "market perform" rating to an "outperform" rating and set a $53.00 price objective for the company in a research report on Tuesday, October 6th. Wall Street Zen downgraded shares of Chain Bridge Bancorp from a "buy" rating to a "hold" rating in a research note on Monday, October 12th. Piper Sandler lifted their price objective 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 research report on Monday. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $47.50.

Chain Bridge Bancorp Trading Up 1.4%

Shares of NYSE:CBNA opened at $50.74 on Thursday. The company's 50 day moving average is $48.35 and its two-hundred day moving average is $40.94. The company has a market cap of $332.85 million, a PE ratio of 10.30 and a beta of 0.16. Chain Bridge Bancorp has a 52 week low of $28.14 and a 52 week high of $54.11.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.04. Chain Bridge Bancorp had a net margin of 42.06% and a return on equity of 18.68%. The business had revenue of $22.78 million for the quarter, compared to analysts' expectations of $22.05 million. As a group, equities research analysts expect that Chain Bridge Bancorp will post 5.08 EPS for the current year.

Hedge Funds Weigh In On Chain Bridge Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its position in shares of Chain Bridge Bancorp by 194.6% in the third quarter. Russell Investments Group Ltd. now owns 4,021 shares of the company's stock valued at $185,000 after acquiring an additional 2,656 shares during the period. Schwartz Investment Counsel Inc. acquired a new stake in shares of Chain Bridge Bancorp in the third quarter valued at approximately $215,000. Hingham Institution for Savings lifted its holdings in Chain Bridge Bancorp by 0.6% during the 3rd quarter. Hingham Institution for Savings now owns 336,137 shares of the company's stock worth $15,489,000 after buying an additional 2,000 shares during the last quarter. Militia Capital Management LLC acquired a new stake in Chain Bridge Bancorp in the first quarter valued at $593,000. Finally, Bank of America Corp DE boosted its holdings in Chain Bridge Bancorp by 3.1% in the first quarter. Bank of America Corp DE now owns 9,661 shares of the company's stock worth $337,000 after purchasing an additional 293 shares during the period.

About Chain Bridge Bancorp

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.

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