Chain Bridge Bancorp (NYSE:CBNA) Posts Earnings Results, Beats Expectations By $0.26 EPS

Key Points

• Chain Bridge Bancorp reported earnings of $0.70 per share for the quarter, significantly surpassing analysts' expectations of $0.44.
• Following the earnings report, CBNA stock increased by 1.0%, trading at $26.98.
• Piper Sandler downgraded Chain Bridge Bancorp's rating from "overweight" to "neutral", setting a target price of $29.00.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) released its earnings results on Monday. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.26, Zacks reports. Chain Bridge Bancorp had a net margin of 35.57% and a return on equity of 16.04%. The firm had revenue of $12.62 million during the quarter, compared to analyst estimates of $11.99 million.

Chain Bridge Bancorp Stock Down 1.1%

CBNA traded down $0.29 during trading on Friday, hitting $26.10. The company had a trading volume of 6,840 shares, compared to its average volume of 9,609. The company has a market capitalization of $171.22 million and a PE ratio of 6.90. Chain Bridge Bancorp has a one year low of $20.01 and a one year high of $27.97. The firm's 50-day moving average price is $26.18 and its 200 day moving average price is $24.89.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their target price on shares of Chain Bridge Bancorp from $28.00 to $29.00 and gave the stock a "neutral" rating in a report on Tuesday.

Insider Buying and Selling

In other Chain Bridge Bancorp news, major shareholder Martin S. Friedman sold 32,158 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $27.01, for a total transaction of $868,587.58. Following the sale, the insider directly owned 306,078 shares of the company's stock, valued at $8,267,166.78. The trade was a 9.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 25.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Chain Bridge Bancorp stock. Acadian Asset Management LLC bought a new stake in Chain Bridge Bancorp, Inc. (NYSE:CBNA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,580 shares of the company's stock, valued at approximately $131,000. Acadian Asset Management LLC owned 0.09% of Chain Bridge Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Chain Bridge Bancorp Company Profile

Chain Bridge Bancorp, Inc operates as a Delaware-chartered bank holding company for Chain Bridge Bank, National Association that provides commercial and personal banking, and trust services in the United States. Its deposit products include non-interest-bearing and interest-bearing checking accounts, savings accounts, and money market accounts.