Chain Bridge Bancorp, Inc. (NYSE:CBNA) Receives Average Rating of "Reduce" from Brokerages

Key Points

• Analysts have a consensus “Reduce” rating on Chain Bridge Bancorp, with one sell and four hold recommendations. The average 12-month price target is $42.17, below the stock’s recent $47.88 price.
• CBNA recently reported quarterly earnings of $1.45 per share, exceeding the $1.24 consensus estimate, while revenue of $20.0 million also surpassed expectations.
• The stock is trading near its 12-month high of $49.07, with a market capitalization of approximately $314 million and a price-to-earnings ratio of 11.79.

Chain Bridge Bancorp, Inc. (NYSE:CBNA - Get Free Report) has been given a consensus recommendation of "Reduce" by the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $42.1667.

CBNA has been the topic of several analyst reports. Hovde Group raised their target price on Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a "market perform" rating in a report on Monday, May 4th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Chain Bridge Bancorp in a research note on Wednesday, July 29th. Zacks Research lowered shares of Chain Bridge Bancorp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 30th. Piper Sandler upped 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 report on Monday, August 3rd. Finally, Wall Street Zen upgraded Chain Bridge Bancorp from a "hold" rating to a "buy" rating in a research note on Sunday.

Chain Bridge Bancorp Trading Down 0.1%

NYSE:CBNA opened at $47.88 on Wednesday. The firm has a market capitalization of $314.06 million, a price-to-earnings ratio of 11.79 and a beta of 0.21. The firm's fifty day simple moving average is $41.50 and its 200 day simple moving average is $37.82. Chain Bridge Bancorp has a twelve month low of $26.74 and a twelve month high of $49.07.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.45 earnings per share for the quarter, topping 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 15.75%. The firm had revenue of $20.00 million during the quarter, compared to analysts' expectations of $18.98 million. On average, analysts predict that Chain Bridge Bancorp will post 5.13 earnings per share for the current year.

Institutional Trading of Chain Bridge Bancorp

A number of hedge funds have recently made changes to their positions in CBNA. JPMorgan Chase & Co. acquired a new stake in Chain Bridge Bancorp in the second quarter valued at $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Chain Bridge Bancorp during the 2nd quarter worth $33,000. Russell Investments Group Ltd. acquired a new position in Chain Bridge Bancorp during the 2nd quarter worth $37,000. Wells Fargo & Company MN raised its stake in shares of Chain Bridge Bancorp by 49.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,449 shares of the company's stock valued at $85,000 after purchasing an additional 815 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new position in shares of Chain Bridge Bancorp during the second quarter worth about $101,000.

About Chain Bridge Bancorp

Chain Bridge Bancorp, Inc NYSE: CBNA is the bank holding company for Chain Bridge Bank, a full-service community commercial bank headquartered in Oakton, Virginia. Founded in 1999, the company is focused on serving small- and middle-market businesses, professional firms and individual clients throughout the Washington, DC metropolitan area.

Through its subsidiary, Chain Bridge Bank provides a comprehensive suite of deposit products, including checking, savings and money market accounts, as well as time deposits.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source