Chain Bridge Bancorp (NYSE:CBNA) Issues Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Key Points

• Chain Bridge Bancorp beat quarterly expectations: The bank reported earnings per share of $1.45, surpassing the $1.24 consensus estimate, while revenue reached $20.00 million versus expectations of $18.98 million.
• Shares traded near their 52-week high: CBNA fell $1.09 to $43.51, with a market capitalization of $285.45 million and a 52-week range of $25.76 to $45.26.
• Analyst sentiment remains cautious: The stock has an average “Reduce” rating, with four Holds and one Sell, and a consensus price target of $38.50—below its reported trading price.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) issued its earnings results on Tuesday. The company reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.21, FiscalAI reports. Chain Bridge Bancorp had a return on equity of 13.07% and a net margin of 35.09%.The business had revenue of $20.00 million during the quarter, compared to the consensus estimate of $18.98 million.

Chain Bridge Bancorp Stock Performance

Chain Bridge Bancorp stock traded down $1.09 during mid-day trading on Tuesday, reaching $43.51. The stock had a trading volume of 20,361 shares, compared to its average volume of 8,239. The firm has a market capitalization of $285.45 million, a PE ratio of 13.15 and a beta of 0.24. Chain Bridge Bancorp has a fifty-two week low of $25.76 and a fifty-two week high of $45.26. The stock's 50-day simple moving average is $39.34 and its 200-day simple moving average is $36.78.

Hedge Funds Weigh In On Chain Bridge Bancorp

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new stake in Chain Bridge Bancorp during the 2nd quarter valued at $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Chain Bridge Bancorp in the second quarter valued at $33,000. Russell Investments Group Ltd. bought a new position in shares of Chain Bridge Bancorp in the second quarter valued at $37,000. Wells Fargo & Company MN grew its holdings in shares of Chain Bridge Bancorp by 49.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,449 shares of the company's stock valued at $85,000 after buying an additional 815 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of Chain Bridge Bancorp during the second quarter valued at about $101,000.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CBNA shares. Zacks Research downgraded shares of Chain Bridge Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 30th. Weiss Ratings upgraded shares of Chain Bridge Bancorp from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, May 1st. Hovde Group increased 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, Wall Street Zen upgraded shares of Chain Bridge Bancorp to a "buy" rating in a report on Saturday, July 18th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $38.50.

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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