Chain Bridge Bancorp (NYSE:CBNA) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Chain Bridge Bancorp from “hold” to “buy,” although the broader analyst consensus remains “Hold” with a $42.17 price target.
• Chain Bridge Bancorp reported strong quarterly results, posting $1.45 in EPS versus the $1.24 estimate and revenue of $20.00 million, ahead of expectations.
• Shares opened at $47.27, near their 52-week high of $49.71; the company has a $310.22 million market capitalization, a P/E ratio of 11.64, and several institutional investors recently increased their holdings.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

A number of other research firms have also commented on CBNA. Zacks Research lowered Chain Bridge Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Weiss Ratings upgraded shares of Chain Bridge Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Finally, 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. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, Chain Bridge Bancorp currently has an average rating of "Hold" and a consensus price target of $42.17.

Chain Bridge Bancorp Price Performance

Shares of Chain Bridge Bancorp stock opened at $47.27 on Friday. Chain Bridge Bancorp has a 1 year low of $28.10 and a 1 year high of $49.71. The business has a 50 day moving average price of $46.62 and a 200 day moving average price of $40.82. The company has a market capitalization of $310.22 million, a P/E ratio of 11.64 and a beta of 0.22.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.21. The firm had revenue of $20.00 million for the quarter, compared to analysts' expectations of $18.98 million. Chain Bridge Bancorp had a return on equity of 15.42% and a net margin of 38.64%. As a group, research analysts expect that Chain Bridge Bancorp will post 5.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Chain Bridge Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Hingham Institution for Savings grew its holdings in Chain Bridge Bancorp by 8.3% in the 2nd quarter. Hingham Institution for Savings now owns 334,137 shares of the company's stock valued at $14,050,000 after buying an additional 25,525 shares during the period. Militia Capital Management LLC purchased a new stake in Chain Bridge Bancorp in the first quarter valued at approximately $593,000. Bank of America Corp DE increased its position 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 purchasing an additional 293 shares during the last quarter. Quantinno Capital Management LP acquired a new position in Chain Bridge Bancorp during the first quarter worth approximately $323,000. Finally, Renaissance Technologies LLC raised its stake in Chain Bridge Bancorp by 2.7% during the first quarter. Renaissance Technologies LLC now owns 15,200 shares of the company's stock worth $530,000 after purchasing an additional 400 shares during the period.

Chain Bridge Bancorp Company Profile

Chain Bridge Bancorp, Inc is a bank holding company whose principal subsidiary is Chain Bridge Bank, N.A., a nationally chartered community bank headquartered in McLean, Virginia. The bank provides commercial and private banking services to businesses, nonprofit organizations, associations, professional service firms, government contractors, and individuals and families.

Chain Bridge Bank's offerings include business and personal deposit accounts, commercial and real estate lending, lines of credit, treasury management, online banking, cash-management services, and escrow and custodial services.

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