Short Interest in Chain Bridge Bancorp, Inc. (NYSE:CBNA) Drops By 43.1%

Chain Bridge Bancorp, Inc. (NYSE:CBNA) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 9,822 shares, a decline of 43.1% from the April 30th total of 17,272 shares. Based on an average daily volume of 3,224 shares, the days-to-cover ratio is presently 3.0 days. Approximately 0.2% of the shares of the company are short sold.

Chain Bridge Bancorp Stock Down 0.7%

CBNA stock traded down $0.25 during trading on Tuesday, reaching $35.97. 4,083 shares of the company’s stock were exchanged, compared to its average volume of 4,415. Chain Bridge Bancorp has a 1-year low of $23.76 and a 1-year high of $38.98. The company’s fifty day moving average price is $36.18 and its 200-day moving average price is $35.00. The firm has a market cap of $235.96 million, a PE ratio of 10.87 and a beta of 0.36.

Chain Bridge Bancorp (NYSE:CBNA) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. Chain Bridge Bancorp had a return on equity of 13.07% and a net margin of 35.09%.The company had revenue of $17.37 million during the quarter, compared to analyst estimates of $15.49 million. As a group, sell-side analysts expect that Chain Bridge Bancorp will post 4.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler assumed coverage on Chain Bridge Bancorp in a research report on Monday, March 16th. They set a “neutral” rating and a $39.00 price objective for the company. Weiss Ratings upgraded Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Zacks Research upgraded Chain Bridge Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Finally, Hovde Group boosted their price objective on Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a “market perform” rating in a research report on Monday, May 4th. One equities research 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 company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $38.50.

Insider Transactions at Chain Bridge Bancorp

In related news, insider James R. Pollock acquired 714 shares of Chain Bridge Bancorp stock in a transaction that occurred on Thursday, March 5th. The stock was acquired at an average price of $35.25 per share, for a total transaction of $25,168.50. Following the transaction, the insider directly owned 3,845 shares of the company’s stock, valued at $135,536.25. This trade represents a 22.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 25.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP boosted its position in Chain Bridge Bancorp by 80.4% during the 3rd quarter. Royce & Associates LP now owns 245,721 shares of the company’s stock worth $8,042,000 after acquiring an additional 109,495 shares during the period. Hingham Institution for Savings acquired a new position in Chain Bridge Bancorp during the 4th quarter worth $10,169,000. RMR Wealth Builders acquired a new position in Chain Bridge Bancorp during the 4th quarter worth $1,341,000. Cannell Capital LLC boosted its position in Chain Bridge Bancorp by 239.5% during the 3rd quarter. Cannell Capital LLC now owns 61,609 shares of the company’s stock worth $2,016,000 after acquiring an additional 43,464 shares during the period. Finally, Magnolia Private Wealth LLC acquired a new position in Chain Bridge Bancorp during the 4th quarter worth $1,131,000.

Chain Bridge Bancorp Company Profile

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.