Chain Bridge Bancorp (NYSE:CBNA) Cut to Hold at Zacks Research

Zacks Research lowered shares of Chain Bridge Bancorp (NYSE:CBNA) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Chain Bridge Bancorp in a research report on Friday, March 27th. Piper Sandler initiated coverage on Chain Bridge Bancorp in a research report on Monday, March 16th. They issued a “neutral” rating and a $39.00 price objective for the company. Finally, Raymond James Financial cut Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, January 7th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chain Bridge Bancorp presently has a consensus rating of “Reduce” and a consensus target price of $38.00.

Chain Bridge Bancorp Trading Down 3.0%

CBNA opened at $35.02 on Tuesday. Chain Bridge Bancorp has a 1-year low of $22.84 and a 1-year high of $38.42. The stock has a market capitalization of $229.73 million, a price-to-earnings ratio of 11.37 and a beta of 0.48. The business has a 50 day moving average of $35.53 and a 200-day moving average of $33.81.

Chain Bridge Bancorp (NYSE:CBNA) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.02. Chain Bridge Bancorp had a return on equity of 12.63% and a net margin of 34.11%.The company had revenue of $14.69 million during the quarter, compared to analysts’ expectations of $13.66 million. Equities analysts predict that Chain Bridge Bancorp will post 2.22 EPS for the current year.

Insider Buying and Selling

In other news, insider James R. Pollock bought 714 shares of Chain Bridge Bancorp stock in a transaction that occurred on Thursday, March 5th. The stock was purchased at an average cost of $35.25 per share, with a total value of $25,168.50. Following the completion of the transaction, the insider directly owned 3,845 shares in the company, valued at $135,536.25. This trade represents a 22.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 25.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CBNA. Hingham Institution for Savings bought a new position in Chain Bridge Bancorp in the fourth quarter worth $10,169,000. Royce & Associates LP lifted its position in Chain Bridge Bancorp by 80.4% in the third quarter. Royce & Associates LP now owns 245,721 shares of the company’s stock worth $8,042,000 after purchasing an additional 109,495 shares during the period. Beartown Capital Management LLC bought a new position in Chain Bridge Bancorp in the fourth quarter worth $2,626,000. Cannell Capital LLC lifted its holdings in shares of Chain Bridge Bancorp by 239.5% during 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 during the period. Finally, RMR Wealth Builders bought a new position in shares of Chain Bridge Bancorp during the fourth quarter valued at $1,341,000.

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.