Chain Bridge Bancorp (NYSE:CBNA) Shares Down 2.1% - Should You Sell?

Key Points

• Chain Bridge Bancorp's stock fell 2.1% to $31.62, with a significant drop in trading volume compared to its average.
• Analysts have mixed ratings on the stock, with consensus at "Hold" and a price target of $30.67, while Zacks reduced its rating from "strong-buy" to "hold."
• The company reported earnings of $0.70 per share for the last quarter, surpassing estimates and indicating strong revenue growth.

Chain Bridge Bancorp, Inc. (NYSE:CBNA - Get Free Report)'s stock price was down 2.1% during trading on Wednesday . The company traded as low as $31.74 and last traded at $31.62. Approximately 6,085 shares traded hands during trading, a decline of 43% from the average daily volume of 10,630 shares. The stock had previously closed at $32.30.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CBNA shares. Zacks Research cut shares of Chain Bridge Bancorp from a "strong-buy" rating to a "hold" rating in a report on Friday, October 3rd. Raymond James Financial set a $37.00 price objective on Chain Bridge Bancorp and gave the stock a "strong-buy" rating in a research note on Tuesday, October 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Chain Bridge Bancorp in a research note on Wednesday, October 8th. Finally, Piper Sandler raised their price target on Chain Bridge Bancorp from $28.00 to $29.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $30.67.

Chain Bridge Bancorp Stock Down 2.1%

The business's 50 day moving average is $30.36 and its 200-day moving average is $27.16. The firm has a market capitalization of $207.39 million and a P/E ratio of 8.36.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.26. Chain Bridge Bancorp had a return on equity of 15.37% and a net margin of 35.57%.The company had revenue of $12.62 million for the quarter, compared to analyst estimates of $11.99 million. Research analysts forecast that Chain Bridge Bancorp, Inc. will post 2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Chain Bridge Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new stake in shares of Chain Bridge Bancorp during the 2nd quarter valued at approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Chain Bridge Bancorp during the second quarter worth $33,000. Russell Investments Group Ltd. bought a new stake in shares of Chain Bridge Bancorp during the second quarter worth $37,000. Elevation Point Wealth Partners LLC bought a new stake in Chain Bridge Bancorp during the 2nd quarter worth $53,000. Finally, New York State Common Retirement Fund bought a new stake in Chain Bridge Bancorp during the 2nd quarter worth $101,000.

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.

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