Hingham Institution for Savings Increases Holdings in Chain Bridge Bancorp, Inc. $CBNA

Key Points

• Hingham Institution for Savings increased its Chain Bridge Bancorp stake by 8.3% in the second quarter, adding 25,525 shares to own 334,137 shares, or approximately 5.09% of CBNA.
• Analyst sentiment remains cautious: the five analysts covering the stock have a consensus “Hold” rating and an average price target of $42.17, despite some recent upgrades.
• Chain Bridge Bancorp exceeded quarterly expectations, reporting $1.45 in earnings per share versus the $1.24 estimate and $20 million in revenue against an $18.98 million forecast. The stock recently traded at $47.53, near its 52-week high of $49.13.

Hingham Institution for Savings boosted its stake in shares of Chain Bridge Bancorp, Inc. (NYSE:CBNA - Free Report) by 8.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 334,137 shares of the company's stock after purchasing an additional 25,525 shares during the period. Chain Bridge Bancorp comprises about 10.5% of Hingham Institution for Savings' investment portfolio, making the stock its 4th biggest position. Hingham Institution for Savings owned approximately 5.09% of Chain Bridge Bancorp worth $14,050,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Militia Capital Management LLC bought a new position in shares of Chain Bridge Bancorp in the first quarter worth approximately $593,000. Bank of America Corp DE lifted its holdings in shares of Chain Bridge Bancorp by 3.1% in the first quarter. Bank of America Corp DE now owns 9,661 shares of the company's stock worth $337,000 after buying an additional 293 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of Chain Bridge Bancorp during the first quarter worth $323,000. Renaissance Technologies LLC increased its holdings in shares of Chain Bridge Bancorp by 2.7% in the first quarter. Renaissance Technologies LLC now owns 15,200 shares of the company's stock worth $530,000 after purchasing an additional 400 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in Chain Bridge Bancorp in the 1st quarter worth approximately $647,000.

Wall Street Analyst Weigh In

CBNA has been the subject of a number of analyst reports. Wall Street Zen raised shares of Chain Bridge Bancorp from a "hold" rating to a "buy" rating in a report on Sunday, August 9th. Piper Sandler increased their target price on shares of Chain Bridge Bancorp from $39.00 to $50.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Zacks Research lowered shares of Chain Bridge Bancorp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 30th. Finally, Weiss Ratings upgraded Chain Bridge Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $42.17.

Chain Bridge Bancorp Price Performance

CBNA opened at $47.53 on Friday. The firm has a market capitalization of $311.83 million, a PE ratio of 11.71 and a beta of 0.20. The business's 50-day moving average is $44.66 and its two-hundred day moving average is $39.20. Chain Bridge Bancorp, Inc. has a 1 year low of $28.10 and a 1 year high of $49.13.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.21. Chain Bridge Bancorp had a net margin of 38.64% and a return on equity of 15.42%. The business had revenue of $20.00 million for the quarter, compared to analysts' expectations of $18.98 million. As a group, sell-side analysts expect that Chain Bridge Bancorp, Inc. will post 5.13 EPS for the current year.

Chain Bridge Bancorp Profile

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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