Chain Bridge Bancorp, Inc. (NYSE:CBNA) Sees Large Growth in Short Interest

Chain Bridge Bancorp, Inc. (NYSE:CBNA) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 32,988 shares, a growth of 49.0% from the February 12th total of 22,134 shares. Based on an average daily volume of 4,934 shares, the days-to-cover ratio is presently 6.7 days. Approximately 0.7% of the company’s stock are sold short. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 4,934 shares, the days-to-cover ratio is presently 6.7 days.

Analyst Ratings Changes

CBNA has been the subject of several research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Chain Bridge Bancorp in a research report on Monday, December 29th. Raymond James Financial cut shares of Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, January 7th. Finally, Zacks Research raised shares of Chain Bridge Bancorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 28th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $33.00.

Insider Transactions at Chain Bridge Bancorp

In related news, insider James R. Pollock bought 714 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were purchased at an average cost of $35.25 per share, for a total transaction of $25,168.50. Following the acquisition, the insider owned 3,845 shares of the company’s stock, valued at approximately $135,536.25. This represents a 22.80% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 25.85% of the company’s stock.

Institutional Investors Weigh In On Chain Bridge Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new stake in Chain Bridge Bancorp during the 2nd quarter worth about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Chain Bridge Bancorp in the 2nd quarter valued at about $33,000. Russell Investments Group Ltd. acquired a new stake in shares of Chain Bridge Bancorp in the second quarter valued at about $37,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Chain Bridge Bancorp in the second quarter valued at about $53,000. Finally, Wells Fargo & Company MN raised its holdings 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 worth $85,000 after acquiring an additional 815 shares in the last quarter.

Chain Bridge Bancorp Stock Up 0.7%

NYSE:CBNA opened at $35.15 on Monday. Chain Bridge Bancorp has a twelve month low of $20.01 and a twelve month high of $38.42. The business has a 50 day moving average price of $34.87 and a two-hundred day moving average price of $33.10. The company has a market cap of $230.59 million, a P/E ratio of 11.41 and a beta of 0.54.

Chain Bridge Bancorp (NYSE:CBNA) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.02. The company had revenue of $14.70 million during the quarter, compared to analysts’ expectations of $13.66 million. Chain Bridge Bancorp had a net margin of 34.11% and a return on equity of 12.88%. As a group, analysts anticipate that Chain Bridge Bancorp will post 2.22 earnings per share for the current fiscal year.

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.