Chain Bridge Bancorp (NYSE:CBNA) Upgraded to “Strong-Buy” at Zacks Research

Chain Bridge Bancorp (NYSE:CBNA) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

Other research analysts have also issued reports about the stock. Weiss Ratings raised shares of Chain Bridge Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Raymond James Financial raised Chain Bridge Bancorp from a “market perform” rating to an “outperform” rating and set a $53.00 price target for the company in a report on Tuesday. Piper Sandler lifted their price objective on Chain Bridge Bancorp from $39.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen upgraded Chain Bridge Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, October 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Chain Bridge Bancorp currently has an average rating of “Moderate Buy” and an average target price of $47.50.

Chain Bridge Bancorp Stock Up 0.1%

Shares of NYSE CBNA opened at $49.52 on Wednesday. The firm has a 50-day simple moving average of $46.96 and a 200-day simple moving average of $41.23. The stock has a market capitalization of $324.82 million, a price-to-earnings ratio of 12.20 and a beta of 0.22. Chain Bridge Bancorp has a 52 week low of $28.10 and a 52 week high of $50.99.

Chain Bridge Bancorp (NYSE:CBNA) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.45 earnings per share for the quarter, topping 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 firm had revenue of $20.00 million for the quarter, compared to analyst estimates of $18.98 million. As a group, equities research analysts expect that Chain Bridge Bancorp will post 5.2 EPS for the current year.

Institutional Trading of Chain Bridge Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hingham Institution for Savings increased its holdings in shares of Chain Bridge Bancorp by 8.3% during the 2nd quarter. Hingham Institution for Savings now owns 334,137 shares of the company’s stock worth $14,050,000 after buying an additional 25,525 shares during the last quarter. Gator Capital Management LLC lifted its holdings in Chain Bridge Bancorp by 0.8% in the fourth quarter. Gator Capital Management LLC now owns 205,745 shares of the company’s stock valued at $7,127,000 after acquiring an additional 1,635 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Chain Bridge Bancorp in the first quarter worth approximately $647,000. Militia Capital Management LLC acquired a new stake in Chain Bridge Bancorp during the first quarter worth $593,000. Finally, Renaissance Technologies LLC increased its stake in Chain Bridge Bancorp by 2.7% during the first quarter. Renaissance Technologies LLC now owns 15,200 shares of the company’s stock worth $530,000 after acquiring an additional 400 shares during the last quarter.

About Chain Bridge Bancorp

Chain Bridge Bancorp, Inc is the bank holding company for Chain Bridge Bank, National Association, a full-service commercial bank headquartered in McLean, Virginia. The company provides banking and financial services to businesses, nonprofit organizations, associations, political organizations, and individuals.

Chain Bridge Bank offers deposit accounts, commercial and consumer lending, cash management, treasury services, online banking, and other customized financial solutions. Its services are designed to support operating, payment, borrowing, and liquidity needs for organizations and privately held businesses, as well as personal banking needs for individuals and families.

Founded in 2007, the company primarily serves clients in the Washington, DC, metropolitan area and provides specialized banking services to organizations and customers located across the United States.