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Relative valuation derived from Financials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 58.7GRADE C+
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
13.2%
Sector: 8.5%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, CHAIN BRIDGE BANCORP INC (CBNA) receives a "Hold" rating with a composite score of 53.8/100, ranked #897 out of 4446 stocks. Key factor scores: Quality 59/100, Value 73/100, Momentum 56/100. This is quantitative analysis only — not investment advice.
CHAIN BRIDGE BANCORP INC (CBNA) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does CHAIN BRIDGE BANCORP INC Do?
Chain Bridge Bancorp, Inc. is a Delaware-chartered bank holding company and the parent of its wholly-owned subsidiary, Chain Bridge Bank, N.A., a nationally chartered commercial bank with fiduciary powers granted by the OCC. The Company was incorporated on May 26, 2006, and the Bank opened on August 6, 2007. The Company conducts substantially all of its operations through the Bank and has no other subsidiaries. We offer a range of commercial and personal banking services, including deposits, treasury management, payments, loans, commercial lending, residential mortgage financing, consumer loans, trusts and estate administration, wealth management, and asset custody. Our mission is to deliver exceptional banking and trust services nationwide, blending financial strength, personalized service, and advanced technology to offer tailored solutions to businesses, non-profit organizations, political organizations, individuals, and families. Our vision is to grow responsibly by adapting our personalized service and advanced technology solutions to our clients’ evolving needs while emphasizing liquidity, asset quality, and financial strength. We aim to be recognized for our “Strength, Service, Solutions: Your Bridge to Better Banking Nationwide.” As of June 30, 2024, we held total assets of $1.4 billion, including $488.0 million in cash and cash equivalents, of which $471.2 million were interest-bearing reserves held at the Federal Reserve. Our portfolio included $604.0 million in securities, with $246.6 million or 40.6% of that in U.S. Treasury securities. Net loans held for investment, after accounting for deferred fees and costs and allowances, totaled $300.4 million. Our total deposits stood at $1.3 billion, with stockholders’ equity at $94.0 million. Approximately 94.2% of these deposits were held in transaction accounts. Our loan-to-deposit ratio was 23.4%. Our Trust & Wealth Department reported total assets under administration of $364.0 million, consisting of $98.0 million of assets under management and $266.0 million of assets under custody as of June 30, 2024. Additionally, as of June 30, 2024, we had $499.2 million in excess deposits sold one-way to other participating banks through the IntraFi Cash Service® (ICS®). For our clients that opt into the ICS® network, this service allows us to place their deposits in increments up to the FDIC insurance limits at other banks within the ICS® network. In exchange, we may elect to either receive reciprocal deposits from other banks within the ICS® network or place the deposits at other banks as “One-Way Sell®” deposits and receive a deposit placement fee. The Company aims to enhance stockholder value while managing risk. One of the metrics that we use to measure our performance is book value per share. The chart below shows that the Company has increased its book value per share at a compound annual growth rate (CAGR) of 8.5% from December 31, 2007 to June 30, 2024, 8.7% from December 31, 2013 to June 30, 2024 and 10.8% from December 31, 2018 to June 30, 2024. --- The CAGRs in our book value per share since December 31, 2007, December 31, 2013, and December 31, 2018 were impacted by growth in our book value per share of $392 during the six months ended June 30, 2024. This growth was primarily driven by our $9.7 million in net income for the six months ended June 30, 2024, all of which was retained on our balance sheet as retained earnings. The increase in net income was primarily due to an increase in deposits from political organizations ahead of the 2024 federal elections, which increased our interest-earning assets, including our reserve balances at the Federal Reserve, and also increased our non-interest income from One-Way Sell® deposits in the ICS® program. As a result of the 2024 presidential election, we expect deposit outflows during the third and fourth quarters of 2024, with the possibility of some outflows extending into early 2025. Our principal executive office is located at 1445-A Laughlin Avenue, McLean, Virginia. CHAIN BRIDGE BANCORP INC (CBNA) is classified as a micro-cap stock in the Financials sector, specifically within the Banking industry. The company is led by CEO John J. Brough, headquartered in MCLEAN, Virginia. With a market capitalization of $229M, CBNA is one of the notable companies in the Financials sector.
As of April 2026, CHAIN BRIDGE BANCORP INC receives a Hold rating with a composite score of 53.8/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.CBNA ranks #897 out of 4,446 stocks in our coverage universe. Within the Financials sector, CHAIN BRIDGE BANCORP INC ranks #275 of 891 stocks, placing it in the upper half of its Financials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
CBNA Stock Price and 52-Week Range
CHAIN BRIDGE BANCORP INC (CBNA) currently trades at $35.80. The stock lost $0.24 (0.7%) in the most recent trading session. The 52-week high for CBNA is $38.42, which means the stock is currently trading -6.8% from its annual peak. The 52-week low is $20.01, putting the stock 78.9% above its annual trough. Recent trading volume was 2K shares, suggesting relatively thin trading activity.
Is CBNA Overvalued or Undervalued? — Valuation Analysis
CHAIN BRIDGE BANCORP INC (CBNA) carries a value factor score of 73/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The trailing price-to-earnings ratio is 10.42x, compared to the Financials sector average of 14.88x — a discount of 30%. The price-to-book ratio stands at 1.38x, versus the sector average of 1.22x. The price-to-sales ratio is 4.04x, compared to 0.90x for the average Financials stock. On an enterprise value basis, CBNA trades at 8.45x EV/EBITDA, versus 3.26x for the sector.
Based on these multiples, CHAIN BRIDGE BANCORP INC appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.
CHAIN BRIDGE BANCORP INC (CBNA) earns a quality factor score of 59/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 13.2%, compared to the Financials sector average of 8.5%, which is within a healthy range. Return on assets (ROA) comes in at 1.3% versus the sector average of 1.2%.
On a margin basis, CHAIN BRIDGE BANCORP INC reports gross margins of 0.0%. The operating margin is 45.6% (sector: 21.8%). Net profit margin stands at 38.4%, versus 17.7% for the average Financials stock. The overall profitability profile is adequate, though there may be room for margin expansion.
CBNA Debt, Balance Sheet, and Financial Health
CHAIN BRIDGE BANCORP INC has a debt-to-equity ratio of 934.0%, compared to the Financials sector average of 121.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 1.11x, suggesting adequate working capital coverage. Total debt on the balance sheet is $0. Cash and equivalents stand at $7M.
CBNA has a beta of 0.42, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for CHAIN BRIDGE BANCORP INC is 80/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
CHAIN BRIDGE BANCORP INC Revenue and Earnings History — Quarterly Trend
In TTM 2026, CHAIN BRIDGE BANCORP INC reported revenue of $58M and earnings per share (EPS) of $3.08. Net income for the quarter was $22M. Gross margin was 0.0%. Operating income came in at $22M.
In FY 2025, CHAIN BRIDGE BANCORP INC reported revenue of $56M and earnings per share (EPS) of $3.08. Net income for the quarter was $20M. Revenue grew 16.2% year-over-year compared to FY 2024. Operating income came in at $25M.
In Q3 2025, CHAIN BRIDGE BANCORP INC reported revenue of $13M and earnings per share (EPS) of $0.72. Net income for the quarter was $5M. Revenue grew -19.7% year-over-year compared to Q3 2024. Operating income came in at $6M.
In Q2 2025, CHAIN BRIDGE BANCORP INC reported revenue of $13M and earnings per share (EPS) of $0.70. Net income for the quarter was $5M. Operating income came in at $6M.
Over the past 8 quarters, CHAIN BRIDGE BANCORP INC has demonstrated a growth trajectory, with revenue expanding from $31M to $58M. Investors analyzing CBNA stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
CBNA Dividend Yield and Income Analysis
CHAIN BRIDGE BANCORP INC (CBNA) does not currently pay a dividend. This is common among smaller companies in the Banking industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Financials dividend stocks may want to explore other Financials stocks or use the stock screener to filter by dividend yield.
CBNA Momentum and Technical Analysis Profile
CHAIN BRIDGE BANCORP INC (CBNA) has a momentum factor score of 56/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 7/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
CBNA vs Competitors — Financials Sector Ranking and Peer Comparison
Comparing CBNA against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full CBNA vs S&P 500 (SPY) comparison to assess how CHAIN BRIDGE BANCORP INC stacks up against the broader market across all factor dimensions.
CBNA Next Earnings Date
No upcoming earnings date has been announced for CHAIN BRIDGE BANCORP INC (CBNA) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy CBNA? — Investment Thesis Summary
CHAIN BRIDGE BANCORP INC presents a balanced picture with arguments on both sides. The value score of 73/100 suggests attractive pricing relative to fundamentals. Low volatility (stability score 80/100) reduces downside risk.
In summary, CHAIN BRIDGE BANCORP INC (CBNA) earns a Hold rating with a composite score of 53.8/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on CBNA stock.
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Institutional Research Dossier
CHAIN BRIDGE BANCORP INC (CBNA) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
Chain Bridge Bancorp (CBNA) receives a Hold rating, primarily driven by its rich valuation relative to the broader financial sector, despite its strong profitability metrics. While the bank exhibits impressive operating and net margins, its high P/E ratio suggests that much of its future growth is already priced into the stock. The bank's unique business model, catering to political organizations and leveraging the IntraFi Cash Service (ICS), contributes to its profitability but also introduces specific risks related to deposit volatility and regulatory scrutiny.
The bank's strong capital position and high level of liquid assets provide a buffer against potential deposit outflows, but the reliance on political deposits creates uncertainty regarding future earnings. The bank's ability to sustain its current growth trajectory and maintain its high margins will be crucial in justifying its premium valuation. Investors should closely monitor deposit trends, regulatory developments, and the bank's ability to deploy its excess capital effectively.
Business Strategy & Overview
Chain Bridge Bancorp operates as a commercial bank offering a range of services, including commercial and personal banking, treasury management, loans, and wealth management. Its strategic focus is on delivering personalized service and advanced technology solutions to businesses, non-profit organizations, political organizations, individuals, and families. A key differentiator is its specialization in serving political organizations, which has led to significant deposit inflows, particularly in anticipation of the 2024 federal elections. This specialization, however, also introduces cyclicality and potential volatility in its deposit base.
The bank leverages the IntraFi Cash Service (ICS) to manage its excess deposits, selling them one-way to other participating banks and earning deposit placement fees. This strategy allows the bank to optimize its balance sheet and generate non-interest income. The bank's loan-to-deposit ratio of 23.4% indicates a conservative lending approach and a significant amount of excess liquidity. The bank's trust and wealth management department contributes to its revenue stream, managing and administering a substantial amount of assets.
Chain Bridge Bancorp's mission is to provide exceptional banking and trust services nationwide, emphasizing financial strength, personalized service, and advanced technology. Its vision is to grow responsibly by adapting its services to clients' evolving needs while prioritizing liquidity, asset quality, and financial strength. The company aims to enhance stockholder value while managing risk, focusing on metrics such as book value per share, which has shown consistent growth over the years.
The bank's strategy also involves maintaining a high level of liquid assets, as evidenced by its significant holdings of cash and cash equivalents, including interest-bearing reserves at the Federal Reserve. This provides a buffer against potential deposit outflows and allows the bank to capitalize on investment opportunities. The bank's focus on personalized service and tailored solutions aims to build long-term relationships with its clients and differentiate itself from larger, more impersonal financial institutions.
Execution Benchmarks audit
Gross Margin
Core pricing power
0.0%
Sector: 0.0%
-NaN% VS SCTR
Economic Moat Analysis
Chain Bridge Bancorp's economic moat is likely Narrow. While the bank doesn't possess a wide moat, it benefits from certain factors that provide a degree of competitive advantage. The bank's specialization in serving political organizations creates a niche market with specific needs and requirements. This specialization can lead to customer loyalty and reduced price sensitivity, as these organizations may value the bank's expertise and understanding of their unique financial needs.
The bank's personalized service and tailored solutions also contribute to its competitive advantage. In an industry often characterized by commoditized products and services, the bank's focus on building strong relationships with its clients can create switching costs and increase customer retention. The bank's use of advanced technology can also enhance its service offerings and improve efficiency, further differentiating it from competitors.
However, the bank's moat is not wide due to the relatively low barriers to entry in the banking industry and the availability of alternative financial institutions that can provide similar services. The bank's reliance on political deposits also introduces a degree of cyclicality and uncertainty, which can erode its competitive advantage during periods of political transition or regulatory changes. The bank's size and scale are also relatively small compared to larger national and regional banks, which may limit its ability to compete on price and product offerings.
The IntraFi Cash Service (ICS) provides a temporary advantage in managing excess deposits and generating non-interest income, but this is not a sustainable moat. Other banks can easily participate in the ICS network, and the fees earned from this service are subject to market conditions and competition. The bank's brand recognition and reputation may also contribute to its competitive advantage, but this is difficult to quantify and may not be strong enough to create a wide moat.
Financial Health & Profitability
Chain Bridge Bancorp exhibits strong financial health, characterized by robust profitability and a conservative balance sheet. The bank's net income for the trailing twelve months (TTM) is $20.24 million on revenue of $55.84 million, resulting in a net margin of 38.4%, significantly higher than the sector average of 17.8%. The operating margin of 45.6% also surpasses the sector average of 22.0%, indicating efficient operations and effective cost management. The bank's return on equity (ROE) of 13.7% is also higher than the sector average of 8.5%, demonstrating its ability to generate profits from shareholders' equity.
The bank's balance sheet is characterized by a high level of liquidity and a low loan-to-deposit ratio. As of June 30, 2024, the bank held $488.0 million in cash and cash equivalents, representing a significant portion of its total assets of $1.4 billion. The loan-to-deposit ratio of 23.4% indicates a conservative lending approach and a substantial amount of excess liquidity. The bank's total debt is $0.00, further strengthening its financial position. The current ratio of 1.11 indicates that the bank has sufficient current assets to cover its current liabilities.
The quarterly financial history reveals consistent profitability and revenue growth. The bank's revenue increased from $31.02 million in FY2023 to $48.08 million in FY2024 and $55.84 million in FY2025 (TTM). Net income also increased from $8.83 million in FY2023 to $20.95 million in FY2024 and $20.24 million in FY2025 (TTM). The bank's operating margin has fluctuated over the quarters, but remains consistently high. The free cash flow (FCF) was negative in Q3 FY2024 due to a large outflow, but this appears to be an anomaly and does not reflect the bank's overall cash flow generation capabilities.
The bank's strong financial health is also reflected in its book value per share, which has grown at a compound annual growth rate (CAGR) of 8.5% from December 31, 2007 to June 30, 2024, 8.7% from December 31, 2013 to June 30, 2024 and 10.8% from December 31, 2018 to June 30, 2024. This consistent growth in book value per share indicates the bank's ability to generate long-term value for its shareholders. The bank's financial health provides a solid foundation for future growth and allows it to navigate potential economic challenges.
Valuation Assessment
Chain Bridge Bancorp's valuation appears rich compared to its peers in the financial sector. The company's P/E ratio of 48.4x is significantly higher than the sector average of 15.5x, suggesting that the market has high expectations for the company's future growth. The EV/EBITDA ratio of 9.7x is also higher than the sector average of 3.5x, further indicating a premium valuation. The company's free cash flow (FCF) is negative, making it difficult to assess its valuation based on FCF yield.
The high valuation may be justified by the company's strong profitability metrics, including its high net margin and ROE. However, it is important to consider the sustainability of these metrics. The company's reliance on political deposits introduces a degree of cyclicality and uncertainty, which could impact its future earnings. The company's revenue growth rate is not available, making it difficult to assess its valuation relative to its growth potential.
The company's book value per share has grown consistently over the years, but this growth is already reflected in the stock price. The company's high valuation suggests that much of its future growth is already priced into the stock. Investors should carefully consider the risks and uncertainties associated with the company's business model before investing in the stock.
A discounted cash flow (DCF) analysis would be helpful in determining the intrinsic value of the stock, but this requires making assumptions about the company's future growth rate, discount rate, and terminal value. Given the uncertainties surrounding the company's future earnings, a DCF analysis may not provide a reliable valuation. Overall, the stock appears to be overvalued based on its current financial performance and the risks associated with its business model.
Risk & Uncertainty
Chain Bridge Bancorp faces several specific risks that could impact its future performance. One of the most significant risks is its reliance on political deposits. The company's deposit base is heavily influenced by political organizations, which can lead to significant deposit inflows and outflows depending on the election cycle and political climate. The company acknowledges that it expects deposit outflows during the third and fourth quarters of 2024, with the possibility of some outflows extending into early 2025, due to the 2024 presidential election. This volatility in deposits can impact the company's earnings and balance sheet.
Another risk is regulatory scrutiny. As a bank holding company, Chain Bridge Bancorp is subject to extensive regulation by federal and state authorities. Changes in regulations or increased regulatory oversight could impact the company's operations and profitability. The company's specialization in serving political organizations may also attract additional regulatory scrutiny, as these organizations are subject to specific regulations and reporting requirements.
Competition is also a risk. The banking industry is highly competitive, with numerous national, regional, and local banks vying for customers. Chain Bridge Bancorp faces competition from larger, more established banks with greater resources and brand recognition. The company's ability to compete effectively will depend on its ability to differentiate itself through personalized service, advanced technology, and specialized expertise.
Interest rate risk is another concern. As a bank, Chain Bridge Bancorp is exposed to interest rate risk, which is the risk that changes in interest rates will impact its earnings and asset values. The company's net interest margin (NIM) is sensitive to changes in interest rates, and a decline in NIM could negatively impact its profitability. The company's high level of liquid assets may mitigate some of this risk, but it is still a factor to consider.
Bulls Say / Bears Say
The Bull Case
BULL VIEWChain Bridge Bancorp's specialization in serving political organizations provides a unique niche and a steady stream of deposits, especially during election years, leading to outsized profitability.
BULL VIEWThe bank's conservative balance sheet, with a low loan-to-deposit ratio and high levels of liquid assets, provides a strong buffer against economic downturns and allows for strategic investment opportunities.
The Bear Case
BEAR VIEWChain Bridge Bancorp's high valuation is unsustainable given its reliance on volatile political deposits and the potential for significant outflows after the 2024 election cycle.
BEAR VIEWThe bank's lack of revenue growth and negative free cash flow raise concerns about its ability to generate long-term value for shareholders, especially in a competitive banking environment.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score CBNA and 4,400+ other equities.
CHAIN BRIDGE BANCORP INC exhibits a 123% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
1.3%
Sector: 1.2%
Gross Margin
Pricing power and cost efficiency
0.0%
Sector: 0.0%
Operating Margin
Core business profitability
45.6%
Sector: 21.8%
Net Margin
Bottom-line profitability
38.4%
Sector: 17.7%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
