Chain Bridge Bancorp (NYSE:CBNA) Announces Quarterly Earnings Results

Key Points

• Quarterly beat: Chain Bridge Bancorp reported EPS of $1.08 versus $0.95 expected and revenue of $17.37M versus $15.49M, with a 12.63% return on equity and a 34.11% net margin.
• Stock and valuation: Shares rose about 2.7% to $35.99 after the report; the company has a market cap of $236.13M and a P/E of 11.68.
• Insider and analyst signals: Insider James R. Pollock bought 714 shares, increasing insider ownership to 25.85%, while analysts carry a consensus "Reduce" rating with a $38.00 target.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) announced its earnings results on Tuesday. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.13, FiscalAI reports. The business had revenue of $17.37 million for the quarter, compared to analysts' expectations of $15.49 million. Chain Bridge Bancorp had a return on equity of 12.63% and a net margin of 34.11%.

Chain Bridge Bancorp Trading Up 2.7%

CBNA traded up $0.96 on Tuesday, hitting $35.99. 2,641 shares of the company's stock traded hands, compared to its average volume of 4,406. The company's 50 day simple moving average is $35.48 and its 200-day simple moving average is $33.98. The firm has a market cap of $236.13 million, a price-to-earnings ratio of 11.68 and a beta of 0.48. Chain Bridge Bancorp has a one year low of $23.62 and a one year high of $38.42.

Insider Transactions at Chain Bridge Bancorp

In other Chain Bridge Bancorp news, insider James R. Pollock bought 714 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The shares were bought at an average price of $35.25 per share, with a total value of $25,168.50. Following the purchase, the insider owned 3,845 shares of the company's stock, valued at $135,536.25. This trade represents a 22.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 25.85% of the company's stock.

Institutional Trading of Chain Bridge Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new stake in Chain Bridge Bancorp during the 2nd quarter valued at approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Chain Bridge Bancorp during the 2nd quarter valued at approximately $33,000. Russell Investments Group Ltd. bought a new stake in Chain Bridge Bancorp in the 2nd quarter worth approximately $37,000. Wells Fargo & Company MN increased its stake in Chain Bridge Bancorp by 49.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,449 shares of the company's stock worth $85,000 after acquiring an additional 815 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in Chain Bridge Bancorp in the 2nd quarter worth approximately $101,000.

Analysts Set New Price Targets

Several brokerages have issued reports on CBNA. Weiss Ratings reissued a "sell (d)" rating on shares of Chain Bridge Bancorp in a research report on Friday, March 27th. Zacks Research cut Chain Bridge Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 14th. Raymond James Financial cut Chain Bridge Bancorp from a "strong-buy" rating to a "market perform" rating in a research report on Wednesday, January 7th. Finally, Piper Sandler initiated coverage on Chain Bridge Bancorp in a research note on Monday, March 16th. They issued a "neutral" rating and a $39.00 price objective on the stock. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $38.00.

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.

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