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

Chain Bridge Bancorp (NYSE:CBNA) had its target price reduced by Piper Sandler from $31.00 to $29.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also recently commented on CBNA. Hovde Group initiated coverage on shares of Chain Bridge Bancorp in a research report on Wednesday, November 20th. They set a “market perform” rating and a $26.00 target price on the stock. Raymond James reissued a “strong-buy” rating and set a $34.00 target price (up from $29.00) on shares of Chain Bridge Bancorp in a research report on Thursday, January 30th.

Chain Bridge Bancorp Stock Performance

Shares of CBNA stock opened at $23.36 on Thursday. The firm’s 50 day simple moving average is $24.02. Chain Bridge Bancorp has a fifty-two week low of $20.10 and a fifty-two week high of $27.56.

Chain Bridge Bancorp (NYSE:CBNA) last posted its 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. As a group, equities research analysts anticipate that Chain Bridge Bancorp will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chain Bridge Bancorp news, major shareholder Martin S. Friedman bought 16,194 shares of the stock in a transaction on Monday, February 24th. The stock was purchased at an average price of $24.46 per share, for a total transaction of $396,105.24. Following the completion of the purchase, the insider now directly owns 328,722 shares in the company, valued at approximately $8,040,540.12. This trade represents a 5.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Chain Bridge Bancorp

Several institutional investors have recently added to or reduced their stakes in CBNA. Covestor Ltd bought a new stake in Chain Bridge Bancorp during the fourth quarter valued at $151,000. Bank of America Corp DE bought a new stake in Chain Bridge Bancorp during the fourth quarter valued at $210,000. Chevy Chase Trust Holdings LLC bought a new stake in Chain Bridge Bancorp during the fourth quarter valued at $226,000. Geode Capital Management LLC bought a new stake in Chain Bridge Bancorp during the fourth quarter valued at $507,000. Finally, Royce & Associates LP bought a new stake in Chain Bridge Bancorp during the fourth quarter valued at $1,692,000.

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.