Chain Bridge Bancorp (NYSE:CBNA) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Chain Bridge Bancorp (NYSE:CBNA) issued its earnings results on Wednesday. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04, FiscalAI reports. Chain Bridge Bancorp had a return on equity of 15.42% and a net margin of 38.64%. The company had revenue of $22.78 million during the quarter, compared to the consensus estimate of $22.05 million.

Chain Bridge Bancorp Trading Down 1.3%

Shares of CBNA traded down $0.67 on Wednesday, reaching $50.69. The company’s stock had a trading volume of 12,980 shares, compared to its average volume of 11,683. Chain Bridge Bancorp has a twelve month low of $28.14 and a twelve month high of $54.11. The stock has a market capitalization of $332.61 million, a PE ratio of 12.48 and a beta of 0.22. The firm has a fifty day moving average of $47.60 and a 200-day moving average of $40.23.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CBNA. Wall Street Zen lowered Chain Bridge Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 12th. Piper Sandler raised their price objective on Chain Bridge Bancorp from $39.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Raymond James Financial upgraded Chain Bridge Bancorp from a “market perform” rating to an “outperform” rating and set a $53.00 price objective for the company in a report on Tuesday, October 6th. Weiss Ratings raised Chain Bridge Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Finally, Zacks Research raised Chain Bridge Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Chain Bridge Bancorp Company Profile

Chain Bridge Bancorp, Inc is a bank holding company for Chain Bridge Bank, National Association, a community-focused financial institution headquartered in McLean, Virginia. Founded in 2007, the bank provides commercial banking and financial services to businesses, nonprofit organizations, associations, political organizations and high-net-worth individuals.

Chain Bridge Bank offers deposit accounts, commercial and personal lending, treasury management, cash management and online banking services.