Chain Bridge Bancorp (NYSE:CBNA – Get Free Report) issued its earnings results on Tuesday. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.21, FiscalAI reports. The business had revenue of $20.00 million during the quarter, compared to analysts’ expectations of $18.98 million. Chain Bridge Bancorp had a net margin of 35.09% and a return on equity of 13.07%.
Chain Bridge Bancorp Price Performance
CBNA traded down $1.09 during trading hours on Tuesday, reaching $43.51. The company’s stock had a trading volume of 20,361 shares, compared to its average volume of 8,241. The stock has a market cap of $285.45 million, a PE ratio of 13.15 and a beta of 0.24. Chain Bridge Bancorp has a fifty-two week low of $25.76 and a fifty-two week high of $45.26. The business’s 50-day moving average is $39.34 and its 200-day moving average is $36.78.
Analyst Ratings Changes
CBNA has been the subject of several research reports. Zacks Research cut shares of Chain Bridge Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Wall Street Zen raised shares of Chain Bridge Bancorp to a “buy” rating in a research note on Saturday, July 18th. Weiss Ratings upgraded Chain Bridge Bancorp from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Finally, Hovde Group upped their price target on Chain Bridge Bancorp from $38.00 to $39.50 and gave the company a “market perform” rating in a research report on Monday, May 4th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $38.50.
Institutional Investors Weigh In On Chain Bridge Bancorp
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBNA. JPMorgan Chase & Co. acquired a new position in shares of Chain Bridge Bancorp in the 2nd quarter valued at $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Chain Bridge Bancorp during the 2nd quarter worth about $33,000. Russell Investments Group Ltd. acquired a new stake in shares of Chain Bridge Bancorp during the 2nd quarter worth about $37,000. Wells Fargo & Company MN increased its position in shares of Chain Bridge Bancorp by 49.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock worth $85,000 after purchasing an additional 815 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in Chain Bridge Bancorp in the 2nd quarter valued at about $101,000.
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.
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