Chain Bridge Bancorp (NYSE:CBNA) Upgraded to Buy at Wall Street Zen

Key Points

• Chain Bridge Bancorp was upgraded to a buy rating by Wall Street Zen, though the overall analyst view remains cautious with a consensus rating of Reduce and an average target price of $38.50.
• The bank reported better-than-expected quarterly results, with earnings of $1.08 per share versus the $0.95 estimate and revenue of $17.37 million above expectations.
• The stock recently traded at $42.05, above both its 50-day and 200-day moving averages, and close to its 52-week high of $45.26.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) was upgraded by investment analysts at Wall Street Zen to a "buy" rating in a report issued on Saturday.

Other research analysts have also issued reports about the company. Hovde Group upped their price target on Chain Bridge Bancorp from $38.00 to $39.50 and gave the stock a "market perform" rating in a report on Monday, May 4th. Zacks Research downgraded shares of Chain Bridge Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings raised shares of Chain Bridge Bancorp from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, May 1st. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $38.50.

Chain Bridge Bancorp Stock Performance

Shares of NYSE:CBNA opened at $42.05 on Friday. The stock's 50-day moving average is $38.78 and its 200-day moving average is $36.47. The company has a market cap of $275.88 million, a P/E ratio of 12.71 and a beta of 0.24. Chain Bridge Bancorp has a 52-week low of $25.64 and a 52-week high of $45.26.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last posted 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. The business had revenue of $17.37 million during the quarter, compared to analysts' expectations of $15.49 million. Chain Bridge Bancorp had a return on equity of 13.07% and a net margin of 35.09%. As a group, equities analysts predict that Chain Bridge Bancorp will post 4.93 EPS for the current year.

Hedge Funds Weigh In On Chain Bridge Bancorp

Several large investors have recently added to or reduced their stakes in CBNA. JPMorgan Chase & Co. bought a new stake in shares of Chain Bridge Bancorp in the 2nd quarter worth approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Chain Bridge Bancorp during the second quarter valued at approximately $33,000. Russell Investments Group Ltd. bought a new stake in shares of Chain Bridge Bancorp during the second quarter valued at 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 valued at $85,000 after purchasing an additional 815 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of Chain Bridge Bancorp in the second quarter valued at $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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