Chain Bridge Bancorp (NYSE:CBNA) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Chain Bridge Bancorp (NYSE:CBNA) from a hold rating to a strong sell rating in a research note published on Tuesday,Zacks.com reports.

CBNA has been the subject of several other reports. Raymond James Financial set a $37.00 price target on shares of Chain Bridge Bancorp and gave the stock a “strong-buy” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “sell (d)” rating on shares of Chain Bridge Bancorp in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $33.00.

Chain Bridge Bancorp Price Performance

CBNA opened at $34.48 on Tuesday. The business’s 50-day moving average price is $32.64 and its two-hundred day moving average price is $30.07. Chain Bridge Bancorp has a 1 year low of $20.01 and a 1 year high of $38.42. The company has a market capitalization of $226.27 million, a price-to-earnings ratio of 12.06 and a beta of 0.54.

Chain Bridge Bancorp (NYSE:CBNA) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $13.12 million during the quarter, compared to analysts’ expectations of $13.45 million. Chain Bridge Bancorp had a return on equity of 12.10% and a net margin of 32.83%. Sell-side analysts anticipate that Chain Bridge Bancorp will post 2.22 earnings per share for the current fiscal year.

Institutional Trading of Chain Bridge Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBNA. Royce & Associates LP boosted its stake in Chain Bridge Bancorp by 80.4% in the 3rd quarter. Royce & Associates LP now owns 245,721 shares of the company’s stock valued at $8,042,000 after purchasing an additional 109,495 shares during the period. Gator Capital Management LLC lifted its holdings in shares of Chain Bridge Bancorp by 0.8% during the third quarter. Gator Capital Management LLC now owns 204,110 shares of the company’s stock worth $6,681,000 after buying an additional 1,610 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Chain Bridge Bancorp by 4.2% in the third quarter. Vanguard Group Inc. now owns 112,494 shares of the company’s stock valued at $3,682,000 after acquiring an additional 4,484 shares during the period. EJF Capital LLC bought a new stake in shares of Chain Bridge Bancorp in the first quarter valued at about $2,061,000. Finally, Cannell Capital LLC grew its stake in shares of Chain Bridge Bancorp by 239.5% in the third quarter. Cannell Capital LLC now owns 61,609 shares of the company’s stock valued at $2,016,000 after acquiring an additional 43,464 shares in the last quarter.

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.