Chain Bridge Bancorp (NYSE:CBNA) Price Target Cut to $29.00 by Analysts at Piper Sandler

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

Several other research firms also recently weighed in on CBNA. Hovde Group began coverage on shares of Chain Bridge Bancorp in a report on Wednesday, November 20th. They set a “market perform” rating and a $26.00 target price for the company. Raymond James restated a “strong-buy” rating and set a $34.00 target price (up from $29.00) on shares of Chain Bridge Bancorp in a report on Thursday, January 30th.

Chain Bridge Bancorp Stock Up 1.9 %

Shares of CBNA opened at $23.36 on Thursday. The company has a 50-day moving average of $24.02. Chain Bridge Bancorp has a 52-week low of $20.10 and a 52-week high of $27.56.

Chain Bridge Bancorp (NYSE:CBNA) last posted its earnings results on Tuesday, February 4th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.15. On average, equities research analysts forecast that Chain Bridge Bancorp will post 2.22 EPS for the current fiscal year.

Insider Transactions at Chain Bridge Bancorp

In other news, major shareholder Martin S. Friedman purchased 16,194 shares of the stock in a transaction dated 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 completion of the acquisition, the insider now directly owns 328,722 shares in the company, valued at $8,040,540.12. This represents a 5.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Chain Bridge Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC acquired a new stake in shares of Chain Bridge Bancorp in the fourth quarter worth approximately $3,702,000. FJ Capital Management LLC acquired a new stake in shares of Chain Bridge Bancorp in the fourth quarter worth approximately $2,891,000. Citadel Advisors LLC acquired a new stake in shares of Chain Bridge Bancorp in the fourth quarter worth approximately $2,672,000. Bank of America Corp DE acquired a new stake in shares of Chain Bridge Bancorp in the fourth quarter worth approximately $210,000. Finally, Covestor Ltd acquired a new stake in shares of Chain Bridge Bancorp in the fourth quarter worth approximately $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.