Piper Sandler Issues Pessimistic Forecast for Chain Bridge Bancorp (NYSE:CBNA) Stock Price

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

Several other equities analysts have also recently weighed in on CBNA. 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 target price on the stock. Raymond James reiterated a “strong-buy” rating and set a $34.00 price target (up from $29.00) on shares of Chain Bridge Bancorp in a report on Thursday, January 30th.

Chain Bridge Bancorp Price Performance

NYSE:CBNA traded up $0.30 on Thursday, hitting $23.22. 1,833 shares of the company’s stock traded hands, compared to its average volume of 30,695. Chain Bridge Bancorp has a 1 year low of $20.10 and a 1 year high of $27.56. The firm’s 50-day simple moving average is $24.03.

Chain Bridge Bancorp (NYSE:CBNA) last released 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 anticipate that Chain Bridge Bancorp will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Martin S. Friedman bought 16,194 shares of Chain Bridge Bancorp stock in a transaction that occurred on Monday, February 24th. The stock was purchased 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 in the company, valued at $8,040,540.12. This trade represents a 5.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On Chain Bridge Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd acquired a new stake in Chain Bridge Bancorp in the 4th quarter worth approximately $151,000. Bank of America Corp DE acquired a new position in shares of Chain Bridge Bancorp during the fourth quarter worth approximately $210,000. Chevy Chase Trust Holdings LLC acquired a new position in shares of Chain Bridge Bancorp during the fourth quarter worth approximately $226,000. Geode Capital Management LLC acquired a new position in shares of Chain Bridge Bancorp during the fourth quarter worth approximately $507,000. Finally, Royce & Associates LP acquired a new position in shares of Chain Bridge Bancorp during the fourth quarter worth approximately $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.