Piper Sandler Has Lowered Expectations for Chain Bridge Bancorp (NYSE:CBNA) Stock Price

Chain Bridge Bancorp (NYSE:CBNA) had its price objective cut by analysts at Piper Sandler from $31.00 to $29.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 24.92% from the company’s current price.

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

Chain Bridge Bancorp Price Performance

NYSE:CBNA traded up $0.30 during trading hours on Thursday, reaching $23.22. The company had a trading volume of 1,833 shares, compared to its average volume of 30,695. The business has a 50-day simple moving average of $24.03. Chain Bridge Bancorp has a one year low of $20.10 and a one year high of $27.56.

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

Insider Activity

In related news, major shareholder Martin S. Friedman bought 1,088 shares of the business’s stock in a transaction on Friday, February 21st. The shares were purchased at an average price of $24.49 per share, with a total value of $26,645.12. Following the completion of the purchase, the insider now owns 312,528 shares of the company’s stock, valued at $7,653,810.72. This represents a 0.35 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On Chain Bridge Bancorp

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

About Chain Bridge Bancorp

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.