Chain Bridge Bancorp (NYSE:CBNA) Stock Price Down 0.1% – Here’s What Happened

Chain Bridge Bancorp, Inc. (NYSE:CBNA)’s stock price dropped 0.1% on Tuesday . The company traded as low as $28.14 and last traded at $30.1850. Approximately 3,210 shares were traded during trading, a decline of 52% from the average daily volume of 6,721 shares. The stock had previously closed at $30.22.

Wall Street Analysts Forecast Growth

CBNA has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Chain Bridge Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Raymond James Financial set a $37.00 price objective on shares of Chain Bridge Bancorp and gave the stock a “strong-buy” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “sell (d)” rating on shares of Chain Bridge Bancorp in a report on Thursday, November 13th. Finally, Zacks Research downgraded Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.67.

Chain Bridge Bancorp Stock Down 0.1%

The firm has a market capitalization of $198.01 million and a P/E ratio of 10.55. The company’s 50 day moving average is $31.19 and its 200-day moving average is $28.41.

Chain Bridge Bancorp (NYSE:CBNA) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $13.12 million for the quarter, compared to analyst estimates of $13.45 million. Chain Bridge Bancorp had a net margin of 32.83% and a return on equity of 12.10%. On average, analysts predict that Chain Bridge Bancorp, Inc. will post 2.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBNA. JPMorgan Chase & Co. bought a new stake in shares of Chain Bridge Bancorp during the second quarter valued at approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Chain Bridge Bancorp in the 2nd quarter valued at $33,000. Russell Investments Group Ltd. bought a new stake in Chain Bridge Bancorp during the 2nd quarter valued at $37,000. Elevation Point Wealth Partners LLC bought a new stake in Chain Bridge Bancorp during the 2nd quarter valued at $53,000. Finally, New York State Common Retirement Fund acquired a new position in Chain Bridge Bancorp during the second quarter worth $101,000.

About Chain Bridge Bancorp

Chain Bridge Bancorp, Inc operates as a Delaware-chartered bank holding company for Chain Bridge Bank, National Association that provides commercial and personal banking, and trust services in the United States. Its deposit products include non-interest-bearing and interest-bearing checking accounts, savings accounts, and money market accounts.