Chain Bridge Bancorp (NYSE:CBNA) Given New $39.50 Price Target at Hovde Group

Key Points

• Hovde Group raised its price target on Chain Bridge Bancorp to $39.50 (from $38) while maintaining a "market perform" rating, and the street consensus remains cautious with an average target of $38.50 and a MarketBeat consensus rating of "Reduce."
• The company recently beat expectations, reporting quarterly EPS of $1.08 versus $0.95 expected and revenue of $17.37M versus $15.49M, and currently trades at a P/E of 11.36 with a market cap of about $246.7M.
• Insiders and institutions are active: director James R. Pollock bought 714 shares (insiders own 25.85%), and investors like Hingham Institution for Savings and Royce & Associates have recently built or increased positions.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) had its price objective increased by equities researchers at Hovde Group from $38.00 to $39.50 in a note issued to investors on Monday. The brokerage presently has a "market perform" rating on the stock. Hovde Group's target price points to a potential upside of 5.05% from the company's previous close.

Several other research analysts have also weighed in on the stock. Weiss Ratings raised shares of Chain Bridge Bancorp from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday. Piper Sandler assumed coverage on shares of Chain Bridge Bancorp in a research note on Monday, March 16th. They set a "neutral" rating and a $39.00 price objective on the stock. Zacks Research lowered shares of Chain Bridge Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 14th. Finally, Raymond James Financial lowered shares of Chain Bridge Bancorp from a "strong-buy" rating to a "market perform" rating in a research note on Wednesday, January 7th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $38.50.

Chain Bridge Bancorp Price Performance

Chain Bridge Bancorp stock opened at $37.60 on Monday. The company's 50 day simple moving average is $35.55 and its 200 day simple moving average is $34.09. Chain Bridge Bancorp has a fifty-two week low of $23.62 and a fifty-two week high of $38.42. The firm has a market capitalization of $246.73 million, a price-to-earnings ratio of 11.36 and a beta of 0.45.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.13. Chain Bridge Bancorp had a net margin of 35.09% and a return on equity of 13.31%. The business had revenue of $17.37 million for the quarter, compared to analyst estimates of $15.49 million. As a group, analysts predict that Chain Bridge Bancorp will post 4.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider James R. Pollock purchased 714 shares of the business's stock in a transaction on Thursday, March 5th. The shares were purchased at an average price of $35.25 per share, with a total value of $25,168.50. Following the completion of the purchase, the insider owned 3,845 shares in the company, valued at $135,536.25. This represents a 22.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 25.85% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Hingham Institution for Savings bought a new position in Chain Bridge Bancorp in the fourth quarter valued at approximately $10,169,000. Royce & Associates LP lifted its stake in Chain Bridge Bancorp by 13.2% in the fourth quarter. Royce & Associates LP now owns 278,136 shares of the company's stock valued at $9,635,000 after buying an additional 32,415 shares in the last quarter. Gator Capital Management LLC lifted its stake in Chain Bridge Bancorp by 0.8% in the fourth quarter. Gator Capital Management LLC now owns 205,745 shares of the company's stock valued at $7,127,000 after buying an additional 1,635 shares in the last quarter. Vanguard Group Inc. lifted its stake in Chain Bridge Bancorp by 4.2% in the third quarter. Vanguard Group Inc. now owns 112,494 shares of the company's stock valued at $3,682,000 after buying an additional 4,484 shares in the last quarter. Finally, Beartown Capital Management LLC bought a new position in Chain Bridge Bancorp in the fourth quarter valued at approximately $2,626,000.

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.

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