Chain Bridge Bancorp, Inc. (NYSE:CBNA - Get Free Report) Director Mark Martinelli bought 400 shares of the business's stock in a transaction on Wednesday, July 29th. The stock was bought at an average price of $44.00 per share, for a total transaction of $17,600.00. Following the completion of the purchase, the director directly owned 3,000 shares of the company's stock, valued at $132,000. The trade was a 15.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Chain Bridge Bancorp Stock Performance
Chain Bridge Bancorp stock opened at $45.51 on Friday. The company has a 50-day simple moving average of $39.95 and a 200-day simple moving average of $37.07. The firm has a market capitalization of $298.60 million, a P/E ratio of 11.21 and a beta of 0.24. Chain Bridge Bancorp, Inc. has a one year low of $25.76 and a one year high of $46.90.
Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.21. The business had revenue of $20.00 million for the quarter, compared to analysts' expectations of $18.98 million. Chain Bridge Bancorp had a net margin of 38.64% and a return on equity of 15.75%. As a group, sell-side analysts forecast that Chain Bridge Bancorp, Inc. will post 4.93 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Militia Capital Management LLC bought a new stake in Chain Bridge Bancorp during the first quarter worth approximately $593,000. Bank of America Corp DE boosted its stake 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 valued at $337,000 after purchasing an additional 293 shares in the last quarter. Quantinno Capital Management LP bought a new position in Chain Bridge Bancorp during the 1st quarter valued at $323,000. Renaissance Technologies LLC increased its position in shares of Chain Bridge Bancorp by 2.7% during the 1st quarter. Renaissance Technologies LLC now owns 15,200 shares of the company's stock valued at $530,000 after purchasing an additional 400 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Chain Bridge Bancorp during the 1st quarter valued at $647,000.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Chain Bridge Bancorp in a report on Wednesday. Hovde Group raised their target price 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. Zacks Research lowered Chain Bridge Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen cut Chain Bridge Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Chain Bridge Bancorp currently has an average rating of "Reduce" and a consensus target price of $38.50.
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Chain Bridge Bancorp Company Profile
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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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