Piper Sandler Initiates Coverage on Chain Bridge Bancorp (NYSE:CBNA)

Investment analysts at Piper Sandler initiated coverage on shares of Chain Bridge Bancorp (NYSE:CBNA) in a report issued on Monday. The brokerage set a “neutral” rating and a $39.00 price target on the stock. Piper Sandler’s price target would suggest a potential upside of 8.88% from the company’s previous close.

A number of other equities analysts have also commented on CBNA. Zacks Research upgraded Chain Bridge Bancorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 28th. Raymond James Financial lowered Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Chain Bridge Bancorp in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $38.00.

Chain Bridge Bancorp Trading Up 1.8%

NYSE CBNA traded up $0.63 during trading on Monday, reaching $35.82. The company’s stock had a trading volume of 276 shares, compared to its average volume of 4,894. The firm has a 50 day moving average price of $34.87 and a 200 day moving average price of $33.10. Chain Bridge Bancorp has a 12 month low of $20.01 and a 12 month high of $38.42. The firm has a market capitalization of $234.98 million, a price-to-earnings ratio of 11.63 and a beta of 0.54.

Chain Bridge Bancorp (NYSE:CBNA) last released its quarterly earnings results on Wednesday, January 28th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.02. Chain Bridge Bancorp had a net margin of 34.11% and a return on equity of 12.88%. The company had revenue of $14.70 million during the quarter, compared to the consensus estimate of $13.66 million. On average, equities analysts forecast that Chain Bridge Bancorp will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Chain Bridge Bancorp news, insider James R. Pollock bought 714 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was purchased at an average cost of $35.25 per share, for a total transaction of $25,168.50. Following the completion of the purchase, the insider directly owned 3,845 shares of the company’s stock, valued at approximately $135,536.25. This trade represents a 22.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 25.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chain Bridge Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in shares of Chain Bridge Bancorp during the 1st quarter worth $131,000. Geode Capital Management LLC grew its position in Chain Bridge Bancorp by 115.3% in the second quarter. Geode Capital Management LLC now owns 58,843 shares of the company’s stock valued at $1,517,000 after acquiring an additional 31,510 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Chain Bridge Bancorp in the second quarter valued at about $29,000. Russell Investments Group Ltd. acquired a new position in Chain Bridge Bancorp during the second quarter worth about $37,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Chain Bridge Bancorp in the second quarter worth about $53,000.

About Chain Bridge Bancorp

Chain Bridge Bancorp, Inc (NYSE: CBNA) is the bank holding company for Chain Bridge Bank, a full-service community commercial bank headquartered in Oakton, Virginia. Founded in 1999, the company is focused on serving small- and middle-market businesses, professional firms and individual clients throughout the Washington, DC metropolitan area.

Through its subsidiary, Chain Bridge Bank provides a comprehensive suite of deposit products, including checking, savings and money market accounts, as well as time deposits.