Chain Bridge Bancorp (NYSE:CBNA) Now Covered by Piper Sandler

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

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

Chain Bridge Bancorp Stock Up 1.8%

Shares of NYSE CBNA traded up $0.63 during midday trading on Monday, reaching $35.82. 276 shares of the company were exchanged, compared to its average volume of 4,894. The stock’s 50-day moving average price is $34.87 and its 200-day moving average price is $33.10. The stock has a market cap of $234.98 million, a P/E ratio of 11.63 and a beta of 0.54. Chain Bridge Bancorp has a one year low of $20.01 and a one year high of $38.42.

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

Insider Activity at Chain Bridge Bancorp

In related news, insider James R. Pollock purchased 714 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was bought at an average price of $35.25 per share, with a total value of $25,168.50. Following the completion of the purchase, the insider owned 3,845 shares in the company, valued at approximately $135,536.25. This represents a 22.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 25.85% of the company’s stock.

Institutional Trading of Chain Bridge Bancorp

Several institutional investors have recently added to or reduced their stakes in CBNA. Royce & Associates LP raised its holdings in Chain Bridge Bancorp by 80.4% during the 3rd quarter. Royce & Associates LP now owns 245,721 shares of the company’s stock worth $8,042,000 after purchasing an additional 109,495 shares during the last quarter. Cannell Capital LLC increased its position in shares of Chain Bridge Bancorp by 239.5% during the third quarter. Cannell Capital LLC now owns 61,609 shares of the company’s stock worth $2,016,000 after buying an additional 43,464 shares during the period. Gator Capital Management LLC increased its position in shares of Chain Bridge Bancorp by 0.8% during the third quarter. Gator Capital Management LLC now owns 204,110 shares of the company’s stock worth $6,681,000 after buying an additional 1,610 shares during the period. AlphaCore Capital LLC bought a new position in Chain Bridge Bancorp during the fourth quarter worth $265,000. Finally, CWM LLC lifted its holdings in Chain Bridge Bancorp by 3,239.9% in the fourth quarter. CWM LLC now owns 5,945 shares of the company’s stock valued at $206,000 after buying an additional 5,767 shares during the period.

Chain Bridge Bancorp Company Profile

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.