Zacks Research Upgrades Chain Bridge Bancorp (NYSE:CBNA) to "Strong-Buy"

Key Points

• Zacks Research upgraded Chain Bridge Bancorp to “Strong Buy” from “Hold,” while other analysts also raised their ratings. The stock has an overall “Moderate Buy” consensus and an average price target of $47.50.
• Chain Bridge Bancorp reported quarterly EPS of $1.45, beating estimates of $1.24, while revenue reached $20.00 million versus the $18.98 million consensus.
• CBNA opened at $49.52 and trades near its 52-week high of $50.99, with a market capitalization of approximately $324.8 million. Several institutional investors, including Hingham Institution for Savings, recently increased or initiated positions.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Wednesday, Zacks reports.

Other analysts also recently issued research reports about the company. Wall Street Zen upgraded Chain Bridge Bancorp from a "hold" rating to a "buy" rating in a research note on Sunday, October 4th. Raymond James Financial upgraded 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. Weiss Ratings raised Chain Bridge Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Finally, Piper Sandler upped their price objective on Chain Bridge Bancorp from $39.00 to $50.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $47.50.

Chain Bridge Bancorp Price Performance

NYSE CBNA opened at $49.52 on Wednesday. The company has a market capitalization of $324.82 million, a PE ratio of 12.20 and a beta of 0.22. The company has a fifty day moving average of $46.96 and a 200 day moving average of $41.23. Chain Bridge Bancorp has a 1 year low of $28.10 and a 1 year high of $50.99.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.24 by $0.21. The company had revenue of $20.00 million for the quarter, compared to analyst estimates of $18.98 million. Chain Bridge Bancorp had a net margin of 38.64% and a return on equity of 15.42%. Research analysts expect that Chain Bridge Bancorp will post 5.2 earnings per share for the current year.

Hedge Funds Weigh In On Chain Bridge Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBNA. Hingham Institution for Savings increased its stake in shares of Chain Bridge Bancorp by 8.3% during the second quarter. Hingham Institution for Savings now owns 334,137 shares of the company's stock worth $14,050,000 after purchasing an additional 25,525 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Chain Bridge Bancorp in the 1st quarter valued at about $647,000. Militia Capital Management LLC acquired a new stake in Chain Bridge Bancorp in the 1st quarter worth about $593,000. Bank of America Corp DE increased its stake 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 worth $337,000 after buying an additional 293 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Chain Bridge Bancorp during the first quarter valued at approximately $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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