Mark Martinelli Buys 400 Shares of Chain Bridge Bancorp (NYSE:CBNA) Stock

Key Points

• Director Mark Martinelli purchased 400 Chain Bridge Bancorp shares at $44 each, investing $17,600 and increasing his holdings by 15.38% to 3,000 shares.
• Chain Bridge Bancorp reported quarterly EPS of $1.45, beating analyst estimates of $1.24, while revenue of $20.0 million also exceeded expectations.
• Despite recent institutional buying and strong earnings, analyst sentiment remains cautious: the stock carries an average “Reduce” rating and a $38.50 price target, below its recent $45.51 price.

Chain Bridge Bancorp, Inc. (NYSE:CBNA - Get Free Report) Director Mark Martinelli bought 400 shares of Chain Bridge Bancorp stock in a transaction dated Wednesday, July 29th. The stock was acquired at an average price of $44.00 per share, for a total transaction of $17,600.00. Following the completion of the acquisition, the director owned 3,000 shares in the company, valued at approximately $132,000. The trade was a 15.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Chain Bridge Bancorp Stock Down 0.3%

CBNA traded down $0.14 on Friday, hitting $45.51. The company had a trading volume of 29,878 shares, compared to its average volume of 8,515. The business's fifty day simple moving average is $39.78 and its 200 day simple moving average is $37.02. Chain Bridge Bancorp, Inc. has a 12-month low of $25.76 and a 12-month high of $46.90. The company has a market cap of $298.51 million, a PE ratio of 11.21 and a beta of 0.24.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.21. The business had revenue of $20.00 million for the quarter, compared to the consensus estimate of $18.98 million. Chain Bridge Bancorp had a return on equity of 15.75% and a net margin of 38.64%. On average, analysts anticipate that Chain Bridge Bancorp, Inc. will post 4.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chain Bridge Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Hingham Institution for Savings purchased a new stake in shares of Chain Bridge Bancorp in the fourth quarter valued at approximately $10,169,000. RMR Wealth Builders acquired a new position in shares of Chain Bridge Bancorp during the fourth quarter worth $1,341,000. Magnolia Private Wealth LLC purchased a new stake in shares of Chain Bridge Bancorp during the 4th quarter valued at $1,131,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Chain Bridge Bancorp in the 1st quarter worth $647,000. Finally, Royce & Associates LP grew its stake in Chain Bridge Bancorp by 13.2% during the 4th quarter. Royce & Associates LP now owns 278,136 shares of the company's stock worth $9,635,000 after buying an additional 32,415 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently issued reports on CBNA shares. Weiss Ratings restated a "sell (d+)" rating on shares of Chain Bridge Bancorp in a research report on Wednesday. Zacks Research cut shares of Chain Bridge Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 30th. Hovde Group increased their target price on shares of 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. Finally, Wall Street Zen upgraded shares of Chain Bridge Bancorp to a "buy" rating in a report on Saturday, July 18th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $38.50.

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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