Piper Sandler Cuts Chain Bridge Bancorp (NYSE:CBNA) Price Target to $29.00

Chain Bridge Bancorp (NYSE:CBNA) had its price objective trimmed by Piper Sandler from $31.00 to $29.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on CBNA. Raymond James reaffirmed a “strong-buy” rating and issued a $34.00 price objective (up previously from $29.00) on shares of Chain Bridge Bancorp in a research note on Thursday, January 30th. Hovde Group started coverage on shares of Chain Bridge Bancorp in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $26.00 price objective for the company.

Chain Bridge Bancorp Stock Performance

Chain Bridge Bancorp stock opened at $23.86 on Thursday. The business’s 50 day moving average price is $24.02. Chain Bridge Bancorp has a 1-year low of $20.10 and a 1-year high of $27.56.

Chain Bridge Bancorp (NYSE:CBNA) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.15. Research analysts expect that Chain Bridge Bancorp will post 2.22 EPS for the current year.

Insider Buying and Selling at Chain Bridge Bancorp

In related news, major shareholder Martin S. Friedman acquired 16,194 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was acquired at an average cost of $24.46 per share, for a total transaction of $396,105.24. Following the acquisition, the insider now owns 328,722 shares of the company’s stock, valued at $8,040,540.12. This trade represents a 5.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Nuveen Asset Management LLC purchased a new position in Chain Bridge Bancorp in the fourth quarter worth about $3,702,000. FJ Capital Management LLC purchased a new position in Chain Bridge Bancorp in the fourth quarter worth about $2,891,000. Citadel Advisors LLC purchased a new position in Chain Bridge Bancorp in the fourth quarter worth about $2,672,000. Bank of America Corp DE purchased a new position in Chain Bridge Bancorp in the fourth quarter worth about $210,000. Finally, Covestor Ltd purchased a new position in Chain Bridge Bancorp in the fourth quarter worth about $151,000.

Chain Bridge Bancorp Company Profile

Chain Bridge Bancorp, Inc operates as a Delaware-chartered bank holding company for Chain Bridge Bank, National Association that provides commercial and personal banking, and trust services in the United States. Its deposit products include non-interest-bearing and interest-bearing checking accounts, savings accounts, and money market accounts.