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

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

A number of other research analysts also recently issued reports on CBNA. Raymond James reissued a "strong-buy" rating and set a $34.00 price objective (up from $29.00) on shares of Chain Bridge Bancorp in a research report on Thursday, January 30th. 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 price target on the stock.

Chain Bridge Bancorp Trading Up 3.4 %

Shares of CBNA stock traded up $0.78 during mid-day trading on Thursday, reaching $23.52. The stock had a trading volume of 1,676 shares, compared to its average volume of 30,435. The company has a 50-day moving average price 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 - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.15. Equities analysts predict that Chain Bridge Bancorp will post 2.22 EPS for the current year.

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Insiders Place Their Bets

In other Chain Bridge Bancorp news, major shareholder Martin S. Friedman bought 16,194 shares of Chain Bridge Bancorp stock in a transaction dated Monday, February 24th. The shares were purchased at an average cost of $24.46 per share, with a total value of $396,105.24. Following the transaction, the insider now directly owns 328,722 shares of the company's stock, valued at $8,040,540.12. This 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 can be accessed through this link.

Institutional Investors Weigh In On Chain Bridge Bancorp

Several hedge funds have recently bought and sold shares of the business. Alliancebernstein L.P. purchased a new position in shares of Chain Bridge Bancorp during the fourth quarter valued at approximately $5,408,000. Gator Capital Management LLC purchased a new stake in shares of Chain Bridge Bancorp in the fourth quarter worth $5,052,000. Endeavour Capital Advisors Inc. purchased a new stake in shares of Chain Bridge Bancorp in the fourth quarter worth $4,504,000. Nuveen Asset Management LLC bought a new position in shares of Chain Bridge Bancorp during the fourth quarter valued at $3,702,000. Finally, FJ Capital Management LLC purchased a new position in shares of Chain Bridge Bancorp in the 4th quarter worth about $2,891,000.

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.