Chain Bridge Bancorp, Inc. (NYSE:CBNA) Short Interest Down 25.1% in March
by Teresa Graham · The Cerbat GemChain Bridge Bancorp, Inc. (NYSE:CBNA – Get Free Report) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 24,992 shares, a decrease of 25.1% from the March 15th total of 33,370 shares. Based on an average daily volume of 4,315 shares, the days-to-cover ratio is presently 5.8 days. Approximately 0.5% of the shares of the stock are sold short.
Insiders Place Their Bets
In other Chain Bridge Bancorp news, insider James R. Pollock purchased 714 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was acquired at an average cost of $35.25 per share, for a total transaction of $25,168.50. Following the purchase, the insider directly owned 3,845 shares of the company’s stock, valued at $135,536.25. This trade represents a 22.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 25.85% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new position in shares of Chain Bridge Bancorp during the 2nd quarter valued at approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Chain Bridge Bancorp during the 2nd quarter valued at approximately $33,000. Russell Investments Group Ltd. bought a new position in shares of Chain Bridge Bancorp during the 2nd quarter valued at approximately $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 valued at $85,000 after purchasing an additional 815 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new position in shares of Chain Bridge Bancorp during the 2nd quarter valued at approximately $101,000.
Chain Bridge Bancorp Trading Down 1.5%
Shares of CBNA stock traded down $0.55 on Wednesday, reaching $35.56. The company’s stock had a trading volume of 868 shares, compared to its average volume of 4,600. The stock’s fifty day simple moving average is $35.61 and its 200-day simple moving average is $33.79. Chain Bridge Bancorp has a 1 year low of $22.84 and a 1 year high of $38.42. The company has a market capitalization of $233.27 million, a price-to-earnings ratio of 11.55 and a beta of 0.48.
Chain Bridge Bancorp (NYSE:CBNA – Get Free Report) last posted its earnings results on Wednesday, January 28th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.02. Chain Bridge Bancorp had a net margin of 34.11% and a return on equity of 12.63%. The firm had revenue of $14.69 million during the quarter, compared to analyst estimates of $13.66 million. Equities research analysts forecast that Chain Bridge Bancorp will post 2.22 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on CBNA shares. Piper Sandler started coverage on Chain Bridge Bancorp in a research note on Monday, March 16th. They issued a “neutral” rating and a $39.00 price target for the company. Raymond James Financial downgraded Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, January 7th. Zacks Research upgraded Chain Bridge Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chain Bridge Bancorp in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chain Bridge Bancorp currently has an average rating of “Hold” and an average target price of $38.00.
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.