Chain Bridge Bancorp, Inc. (NYSE:CBNA) Short Interest Up 143.7% in June

Chain Bridge Bancorp, Inc. (NYSE:CBNAGet Free Report) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 27,552 shares, an increase of 143.7% from the June 15th total of 11,305 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 20,476 shares, the days-to-cover ratio is currently 1.3 days.

Chain Bridge Bancorp Price Performance

Shares of CBNA stock traded up $0.27 during midday trading on Tuesday, reaching $41.94. 1,624 shares of the company traded hands, compared to its average volume of 6,586. The firm’s 50 day simple moving average is $38.38 and its two-hundred day simple moving average is $36.29. Chain Bridge Bancorp has a 1-year low of $25.39 and a 1-year high of $45.26. The firm has a market cap of $275.21 million, a PE ratio of 12.64 and a beta of 0.24.

Chain Bridge Bancorp (NYSE:CBNAGet Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.95 by $0.13. The business had revenue of $17.37 million for the quarter, compared to analyst estimates of $15.49 million. Chain Bridge Bancorp had a return on equity of 13.07% and a net margin of 35.09%. As a group, research analysts anticipate that Chain Bridge Bancorp will post 4.93 earnings per share for the current fiscal year.

Institutional Trading of Chain Bridge Bancorp

Several large investors have recently bought and sold shares of CBNA. Bank of America Corp DE increased its position in shares of Chain Bridge Bancorp by 3.1% in the first quarter. Bank of America Corp DE now owns 9,661 shares of the company’s stock valued at $337,000 after buying an additional 293 shares in the last quarter. Renaissance Technologies LLC grew its stake in Chain Bridge Bancorp by 2.7% in the 1st quarter. Renaissance Technologies LLC now owns 15,200 shares of the company’s stock valued at $530,000 after acquiring an additional 400 shares during the last quarter. State Street Corp increased its holdings in Chain Bridge Bancorp by 2.2% during the 4th quarter. State Street Corp now owns 18,889 shares of the company’s stock valued at $654,000 after acquiring an additional 400 shares in the last quarter. Barclays PLC increased its holdings in Chain Bridge Bancorp by 9.1% during the 4th quarter. Barclays PLC now owns 6,303 shares of the company’s stock valued at $218,000 after acquiring an additional 525 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position 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 during the last quarter.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Hovde Group lifted their target price on shares of Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a “market perform” rating in a report on Monday, May 4th. Piper Sandler began coverage on shares of 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. Weiss Ratings raised Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Finally, Zacks Research cut Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chain Bridge Bancorp presently has an average rating of “Reduce” and an average target price of $38.50.

View Our Latest Research Report on CBNA

Chain Bridge Bancorp Company Profile

(Get Free Report)

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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