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

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

CBNA has been the topic of several other research reports. Piper Sandler initiated coverage on shares of Chain Bridge Bancorp in a report on Monday, March 16th. They issued a “neutral” rating and a $39.00 price target on the stock. Hovde Group upped their price target on shares of Chain Bridge Bancorp from $38.00 to $39.50 and gave the stock a “market perform” rating in a report on Monday, May 4th. Finally, Weiss Ratings raised shares of Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $38.50.

Chain Bridge Bancorp Price Performance

NYSE:CBNA opened at $37.37 on Tuesday. The company has a market cap of $245.15 million, a P/E ratio of 11.29 and a beta of 0.45. The stock’s fifty day moving average price is $36.00 and its two-hundred day moving average price is $34.63. Chain Bridge Bancorp has a 1 year low of $23.76 and a 1 year high of $38.50.

Chain Bridge Bancorp (NYSE:CBNA) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.13. The firm had revenue of $17.37 million for the quarter, compared to analysts’ expectations of $15.49 million. Chain Bridge Bancorp had a net margin of 35.09% and a return on equity of 13.07%. On average, analysts expect that Chain Bridge Bancorp will post 4.93 earnings per share for the current fiscal year.

Insider Transactions at Chain Bridge Bancorp

In other Chain Bridge Bancorp news, insider James R. Pollock purchased 714 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was acquired at an average cost of $35.25 per share, for a total transaction of $25,168.50. Following the completion of the transaction, the insider directly owned 3,845 shares in the company, valued at approximately $135,536.25. This represents a 22.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 25.43% of the stock is currently owned by insiders.

Institutional Trading of Chain Bridge Bancorp

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new stake in Chain Bridge Bancorp during the second quarter valued at about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Chain Bridge Bancorp during the second quarter valued at about $33,000. Russell Investments Group Ltd. purchased a new stake in Chain Bridge Bancorp during the second quarter valued at about $37,000. Wells Fargo & Company MN boosted its position in Chain Bridge Bancorp by 49.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock valued at $85,000 after buying an additional 815 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in Chain Bridge Bancorp during the second quarter valued at about $101,000.

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.