Chain Bridge Bancorp (NYSE:CBNA) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Chain Bridge Bancorp from “hold” to “buy.” Analyst sentiment overall remains “Hold,” with one Buy and four Hold ratings and an average price target of $47.50.
• In its latest quarter, the bank reported EPS of $1.66, beating the $1.62 consensus estimate, and revenue of $22.78 million, above expectations of $22.05 million.
• CBNA opened at $52.86, near its one-year high of $54.11; its market capitalization was approximately $346.7 million.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

Several other equities analysts also recently weighed in on the stock. Piper Sandler raised their price target on shares of Chain Bridge Bancorp from $39.00 to $50.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Raymond James Financial raised shares of 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 note on Tuesday, October 6th. Zacks Research downgraded shares of Chain Bridge Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 5th. Finally, Weiss Ratings raised shares of Chain Bridge Bancorp from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, November 2nd. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Chain Bridge Bancorp currently has a consensus rating of "Hold" and an average price target of $47.50.

Chain Bridge Bancorp Stock Performance

NYSE CBNA opened at $52.86 on Friday. The business has a fifty day moving average price of $48.95 and a 200 day moving average price of $41.41. The company has a market cap of $346.74 million, a P/E ratio of 10.50 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 - Get Free Report) last announced its earnings results on Wednesday, October 28th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. Chain Bridge Bancorp had a net margin of 42.06% and a return on equity of 18.26%. The company had revenue of $22.78 million for the quarter, compared to analysts' expectations of $22.05 million. As a group, sell-side analysts predict that Chain Bridge Bancorp will post 5.08 EPS for the current fiscal year.

Institutional Trading of Chain Bridge Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of CBNA. Russell Investments Group Ltd. raised its holdings in Chain Bridge Bancorp by 194.6% in 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 during the period. Schwartz Investment Counsel Inc. purchased a new position in Chain Bridge Bancorp during the third quarter worth about $215,000. Quantinno Capital Management LP purchased a new position in Chain Bridge Bancorp during the first quarter worth about $323,000. Bank of America Corp DE boosted its stake in Chain Bridge Bancorp by 3.1% during the first quarter. Bank of America Corp DE now owns 9,661 shares of the company's stock worth $337,000 after buying an additional 293 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Chain Bridge Bancorp by 2.7% during the first quarter. Renaissance Technologies LLC now owns 15,200 shares of the company's stock valued at $530,000 after acquiring an additional 400 shares during the last quarter.

About Chain Bridge Bancorp

Chain Bridge Bancorp, Inc. is the bank holding company for Chain Bridge Bank, National Association, a privately focused commercial bank headquartered in McLean, Virginia. The bank was established in 2007 and serves clients in the Washington, D.C., area and across the United States. The company provides banking services to political campaigns, committees and organizations, as well as nonprofit organizations, businesses and individuals. Its offerings include deposit accounts, commercial and private banking, lending, and treasury management services.

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