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

Key Points

• Chain Bridge Bancorp's price target has been raised from $28.00 to $29.00 by Piper Sandler, indicating a potential upside of 7.49% from the stock's previous close.
• The company reported earnings per share of $0.70 for the last quarter, exceeding the consensus estimate of $0.44.
• Insider Martin S. Friedman sold 32,158 shares, decreasing his position by 9.51%, and now holds 306,078 shares valued at over $8 million.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) had its target price hoisted by analysts at Piper Sandler from $28.00 to $29.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's price objective suggests a potential upside of 10.79% from the stock's current price.

Chain Bridge Bancorp Stock Down 1.0%

Shares of NYSE CBNA traded down $0.27 during trading on Tuesday, hitting $26.18. The company had a trading volume of 7,250 shares, compared to its average volume of 9,762. The stock has a fifty day simple moving average of $26.17 and a two-hundred day simple moving average of $24.91. Chain Bridge Bancorp has a fifty-two week low of $20.01 and a fifty-two week high of $27.97. The firm has a market capitalization of $171.76 million and a price-to-earnings ratio of 6.92.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.26. The firm had revenue of $12.62 million for the quarter, compared to analyst estimates of $11.99 million. Chain Bridge Bancorp had a net margin of 35.57% and a return on equity of 16.04%. On average, analysts anticipate that Chain Bridge Bancorp will post 2.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Martin S. Friedman sold 32,158 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $27.01, for a total transaction of $868,587.58. Following the transaction, the insider directly owned 306,078 shares in the company, valued at approximately $8,267,166.78. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 25.85% of the company's stock.

Hedge Funds Weigh In On Chain Bridge Bancorp

A number of institutional investors have recently bought and sold shares of the company. Gator Capital Management LLC raised its stake in Chain Bridge Bancorp by 0.5% during the first quarter. Gator Capital Management LLC now owns 202,500 shares of the company's stock worth $4,815,000 after purchasing an additional 1,000 shares during the period. Acadian Asset Management LLC purchased a new position in Chain Bridge Bancorp during the first quarter worth about $131,000. Covestor Ltd purchased a new position in Chain Bridge Bancorp during the fourth quarter worth about $151,000. Bank of America Corp DE purchased a new position in Chain Bridge Bancorp during the fourth quarter worth about $210,000. Finally, Silvia Mccoll Wealth Management LLC purchased a new position in Chain Bridge Bancorp during the first quarter worth about $222,000.

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.