Chain Bridge Bancorp (NYSE:CBNA) Stock Moved Up to “Buy” by Wall Street Zen

Wall Street Zen upgraded shares of Chain Bridge Bancorp (NYSE:CBNA) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also recently commented on CBNA. Zacks Research cut shares of Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 5th. Raymond James Financial upgraded Chain Bridge Bancorp from a “market perform” rating to an “outperform” rating and set a $53.00 price target on the stock in a research note on Tuesday, October 6th. Piper Sandler upped their target price 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. Finally, Weiss Ratings raised Chain Bridge Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, November 2nd. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.50.

Chain Bridge Bancorp Trading Up 0.7%

Chain Bridge Bancorp stock traded up $0.38 during midday trading on Friday, reaching $52.86. 18,673 shares of the stock traded hands, compared to its average volume of 28,185. The firm has a market cap of $346.74 million, a PE ratio of 10.57 and a beta of 0.16. The company has a 50-day simple moving average of $48.95 and a two-hundred day simple moving average of $41.41. Chain Bridge Bancorp has a 12-month low of $28.14 and a 12-month high of $54.11.

Chain Bridge Bancorp (NYSE:CBNA) last released its earnings results on Wednesday, October 28th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $22.78 million during the quarter, compared to analyst estimates of $22.05 million. Chain Bridge Bancorp had a return on equity of 18.26% and a net margin of 42.06%. Equities research analysts anticipate that Chain Bridge Bancorp will post 5.08 earnings per share for the current year.

Hedge Funds Weigh In On Chain Bridge Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its stake in shares of Chain Bridge Bancorp by 194.6% in the third quarter. Russell Investments Group Ltd. now owns 4,021 shares of the company’s stock worth $185,000 after acquiring an additional 2,656 shares in the last quarter. Schwartz Investment Counsel Inc. acquired a new position in Chain Bridge Bancorp in the third quarter valued at approximately $215,000. Quantinno Capital Management LP acquired a new position in Chain Bridge Bancorp during the 1st quarter valued at approximately $323,000. Bank of America Corp DE grew its position in shares of Chain Bridge Bancorp by 3.1% during the first quarter. Bank of America Corp DE now owns 9,661 shares of the company’s stock worth $337,000 after acquiring an additional 293 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Chain Bridge Bancorp by 2.7% in the 1st 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 period.

About Chain Bridge Bancorp

Chain Bridge Bancorp, Inc. is the bank holding company for Chain Bridge Bank, National Association, a privately focused commercial bank headquartered in McLean, Virginia. The bank was established in 2007 and serves clients in the Washington, D.C., area and across the United States. The company provides banking services to political campaigns, committees and organizations, as well as nonprofit organizations, businesses and individuals. Its offerings include deposit accounts, commercial and private banking, lending, and treasury management services.