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

Key Points

• Wall Street Zen upgraded Chain Bridge Bancorp to “buy” from “hold,” though the broader analyst consensus remains “Reduce,” with a consensus price target of $42.17.
• CBNA reported quarterly earnings of $1.45 per share, beating estimates of $1.24, while revenue of $20.0 million also exceeded expectations.
• The stock opened at $46.77, near its 52-week high of $49.07, with a market capitalization of approximately $306.8 million and a P/E ratio of 11.52.

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

CBNA has been the subject of a number of other research reports. Hovde Group raised their price objective on Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a "market perform" rating in a research note on Monday, May 4th. Piper Sandler raised their price target on shares of Chain Bridge Bancorp from $39.00 to $50.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Zacks Research cut shares of Chain Bridge Bancorp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 30th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Chain Bridge Bancorp in a report on Wednesday, July 29th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $42.17.

Chain Bridge Bancorp Stock Performance

Shares of NYSE CBNA opened at $46.77 on Friday. The company's fifty day moving average is $41.04 and its two-hundred day moving average is $37.58. The firm has a market capitalization of $306.78 million, a P/E ratio of 11.52 and a beta of 0.21. Chain Bridge Bancorp has a one year low of $26.26 and a one year high of $49.07.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.21. Chain Bridge Bancorp had a return on equity of 15.75% and a net margin of 38.64%.The company had revenue of $20.00 million during the quarter, compared to the consensus estimate of $18.98 million. On average, sell-side analysts forecast that Chain Bridge Bancorp will post 5.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chain Bridge Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. 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. acquired a new stake in Chain Bridge Bancorp in the second quarter worth $33,000. Russell Investments Group Ltd. bought a new stake in Chain Bridge Bancorp in the second quarter valued at $37,000. Wells Fargo & Company MN lifted its stake in 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 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 $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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