Insider Buying: Chain Bridge Bancorp, Inc. (NYSE:CBNA) Major Shareholder Buys 16,194 Shares of Stock

Chain Bridge Bancorp, Inc. (NYSE:CBNA - Get Free Report) major shareholder Martin S. Friedman acquired 16,194 shares of Chain Bridge Bancorp stock in a transaction on Monday, February 24th. The shares were purchased at an average price 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 trade represents a 5.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Chain Bridge Bancorp Stock Up 1.4 %

Shares of CBNA traded up $0.32 during mid-day trading on Thursday, reaching $23.60. The company had a trading volume of 217 shares, compared to its average volume of 23,733. Chain Bridge Bancorp, Inc. has a 52-week low of $20.10 and a 52-week high of $27.56. The company has a 50 day moving average price of $24.42.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last announced its quarterly 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. As a group, equities analysts anticipate that Chain Bridge Bancorp, Inc. will post 2.22 EPS for the current fiscal year.

Institutional Trading of Chain Bridge Bancorp

Several institutional investors have recently modified their holdings of CBNA. TCW Group Inc. acquired a new stake in Chain Bridge Bancorp during the 4th quarter worth $2,030,000. Chevy Chase Trust Holdings LLC acquired a new position in Chain Bridge Bancorp in the fourth quarter valued at approximately $226,000. Bank of America Corp DE purchased a new position in shares of Chain Bridge Bancorp during the 4th quarter worth $210,000. Nuveen Asset Management LLC acquired a new stake in shares of Chain Bridge Bancorp during the fourth quarter valued at about $3,702,000. Finally, Citadel Advisors LLC purchased a new position in shares of Chain Bridge Bancorp during the fourth quarter worth $2,672,000.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CBNA. Piper Sandler increased their target price on shares of Chain Bridge Bancorp from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Hovde Group initiated coverage on Chain Bridge Bancorp in a report on Wednesday, November 20th. They issued a "market perform" rating and a $26.00 price target for the company. Finally, Raymond James reissued a "strong-buy" rating and issued a $34.00 target price (up from $29.00) on shares of Chain Bridge Bancorp in a research report on Thursday, January 30th.

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.