Chain Bridge Bancorp, Inc. (NYSE:CBNA – Get Free Report) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 9,822 shares, a drop of 43.1% from the April 30th total of 17,272 shares. Based on an average trading volume of 3,224 shares, the short-interest ratio is presently 3.0 days. Currently, 0.2% of the company’s shares are short sold.
Hedge Funds Weigh In On Chain Bridge Bancorp
Several institutional investors and hedge funds have recently added to or reduced their stakes in CBNA. Bank of America Corp DE grew its position in Chain Bridge Bancorp by 3.1% during the 1st quarter. Bank of America Corp DE now owns 9,661 shares of the company’s stock worth $337,000 after purchasing an additional 293 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of Chain Bridge Bancorp in the first quarter worth $323,000. Renaissance Technologies LLC lifted its stake in shares of Chain Bridge Bancorp by 2.7% during the first quarter. Renaissance Technologies LLC now owns 15,200 shares of the company’s stock worth $530,000 after buying an additional 400 shares during the period. Militia Capital Management LLC acquired a new stake in shares of Chain Bridge Bancorp during the first quarter worth $593,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Chain Bridge Bancorp during the first quarter valued at $647,000.
Chain Bridge Bancorp Stock Up 1.2%
CBNA stock traded up $0.43 during trading on Thursday, hitting $36.49. The company had a trading volume of 1,031 shares, compared to its average volume of 4,426. The firm has a market capitalization of $239.35 million, a P/E ratio of 11.04 and a beta of 0.36. Chain Bridge Bancorp has a 52-week low of $23.76 and a 52-week high of $38.98. The company has a 50 day simple moving average of $36.19 and a 200-day simple moving average of $35.09.
Analysts Set New Price Targets
CBNA has been the subject of a number of recent research reports. Hovde Group lifted their target price on Chain Bridge Bancorp from $38.00 to $39.50 and gave the stock a “market perform” rating in a report on Monday, May 4th. Weiss Ratings upgraded Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Zacks Research raised shares of Chain Bridge Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Finally, Piper Sandler began coverage on shares of Chain Bridge Bancorp in a research report on Monday, March 16th. They set a “neutral” rating and a $39.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Chain Bridge Bancorp has an average rating of “Hold” and an average price target of $38.50.
Get Our Latest Stock Report on Chain Bridge Bancorp
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.
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