Chain Bridge Bancorp (NYSE:CBNA) Upgraded at Zacks Research

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

A number of other equities research analysts also recently weighed in on the company. Raymond James Financial downgraded Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chain Bridge Bancorp in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $33.00.

Chain Bridge Bancorp Stock Up 3.2%

Shares of NYSE:CBNA opened at $35.32 on Wednesday. Chain Bridge Bancorp has a 12-month low of $20.01 and a 12-month high of $38.42. The business has a 50 day moving average of $34.06 and a 200-day moving average of $31.20. The stock has a market cap of $231.70 million, a PE ratio of 11.47 and a beta of 0.47.

Chain Bridge Bancorp (NYSE:CBNA) last released 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 business had revenue of $14.70 million during the quarter, compared to analysts’ expectations of $13.66 million. Chain Bridge Bancorp had a return on equity of 12.88% and a net margin of 34.11%. Equities research analysts expect that Chain Bridge Bancorp will post 2.22 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.