Chain Bridge Bancorp (NYSE:CBNA) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Chain Bridge Bancorp to “Hold” from “Buy.” The broader analyst consensus is “Reduce,” with four Hold ratings and one Sell rating and a consensus price target of $38.50.
• Despite the downgrade, Chain Bridge Bancorp exceeded quarterly expectations, reporting $1.45 in EPS versus the $1.24 consensus and revenue of $20.0 million compared with $18.98 million expected.
• CBNA opened at $45.51, near its 12-month high of $46.90 and above its 50-day and 200-day moving averages. Several institutional investors recently initiated or increased positions in the company.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

CBNA has been the subject of several other research reports. Zacks Research lowered shares of Chain Bridge Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Hovde Group upped their target price on shares of Chain Bridge Bancorp from $38.00 to $39.50 and gave the stock a "market perform" rating in a research note on Monday, May 4th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Chain Bridge Bancorp in a report on Wednesday. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $38.50.

Chain Bridge Bancorp Trading Down 0.3%

CBNA opened at $45.51 on Friday. The stock's 50-day moving average price is $39.95 and its 200 day moving average price is $37.07. Chain Bridge Bancorp has a 12-month low of $25.76 and a 12-month high of $46.90. The firm has a market cap of $298.51 million, a price-to-earnings ratio of 11.21 and a beta of 0.24.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.21. The company had revenue of $20.00 million during the quarter, compared to the consensus estimate of $18.98 million. Chain Bridge Bancorp had a return on equity of 15.75% and a net margin of 38.64%. On average, research analysts forecast that Chain Bridge Bancorp will post 4.93 earnings per share for the current year.

Institutional Investors Weigh In On Chain Bridge Bancorp

Hedge funds have recently bought and sold shares of the stock. Hingham Institution for Savings purchased a new stake in shares of Chain Bridge Bancorp during the fourth quarter worth approximately $10,169,000. Beartown Capital Management LLC purchased a new position in Chain Bridge Bancorp in the fourth quarter worth approximately $2,626,000. RMR Wealth Builders purchased a new position in Chain Bridge Bancorp in the fourth quarter worth approximately $1,341,000. Magnolia Private Wealth LLC acquired a new position in Chain Bridge Bancorp during the 4th quarter worth approximately $1,131,000. Finally, Royce & Associates LP grew its holdings in Chain Bridge Bancorp by 13.2% during the 4th quarter. Royce & Associates LP now owns 278,136 shares of the company's stock worth $9,635,000 after acquiring an additional 32,415 shares in the last quarter.

Chain Bridge Bancorp Company Profile

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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