Chain Bridge Bancorp (NYSE:CBNA) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Chain Bridge Bancorp (CBNA) from "strong-buy" to "hold," and multiple other firms have cut ratings, leaving a MarketBeat consensus of Reduce with a $38.00 price target.
• The stock trades around $35.56 with a market capitalization of $233.3M, a P/E of 11.6, and a one‑year range of $22.84–$38.42.
• CBNA recently beat quarterly estimates (EPS $0.81 vs. $0.79; revenue $14.69M), reported a 12.6% ROE and 34.1% net margin, and an insider purchased 714 shares—insiders now own 25.85% of the company.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on the company. Raymond James Financial lowered Chain Bridge Bancorp from a "strong-buy" rating to a "market perform" rating in a report on Wednesday, January 7th. Weiss Ratings reiterated a "sell (d)" rating on shares of Chain Bridge Bancorp in a report on Friday, March 27th. Finally, Piper Sandler began coverage on Chain Bridge Bancorp in a report on Monday, March 16th. They issued a "neutral" rating and a $39.00 price target on the stock. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $38.00.

Chain Bridge Bancorp Price Performance

NYSE CBNA opened at $35.56 on Tuesday. The business has a 50 day simple moving average of $35.56 and a 200 day simple moving average of $33.80. Chain Bridge Bancorp has a one year low of $22.84 and a one year high of $38.42. The stock has a market capitalization of $233.34 million, a P/E ratio of 11.55 and a beta of 0.48.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.02. The business had revenue of $14.69 million for the quarter, compared to analyst estimates of $13.66 million. Chain Bridge Bancorp had a return on equity of 12.63% and a net margin of 34.11%. Equities analysts expect that Chain Bridge Bancorp will post 2.22 earnings per share for the current year.

Insider Activity at Chain Bridge Bancorp

In related news, insider James R. Pollock acquired 714 shares of the stock in a transaction dated Thursday, March 5th. The stock was purchased at an average cost of $35.25 per share, with a total value of $25,168.50. Following the completion of the purchase, the insider directly owned 3,845 shares in the company, valued at $135,536.25. This trade represents a 22.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 25.85% of the stock is currently owned by company insiders.

Institutional Trading of Chain Bridge Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. purchased a new stake in shares of Chain Bridge Bancorp in the second quarter worth approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Chain Bridge Bancorp in the second quarter worth approximately $33,000. Russell Investments Group Ltd. purchased a new stake in shares of Chain Bridge Bancorp in the second quarter worth approximately $37,000. Wells Fargo & Company MN raised its stake in shares of Chain Bridge Bancorp by 49.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,449 shares of the company's stock worth $85,000 after purchasing an additional 815 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of Chain Bridge Bancorp in the second quarter worth approximately $101,000.

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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