Chain Bridge Bancorp (NYSE:CBNA) Given New $29.00 Price Target at Piper Sandler

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 price objective raised by equities researchers at Piper Sandler from $28.00 to $29.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price objective suggests a potential upside of 9.87% from the stock's previous close.

Chain Bridge Bancorp Trading Down 1.2%

Shares of CBNA stock traded down $0.32 during midday trading on Tuesday, reaching $26.40. 7,274 shares of the stock were exchanged, compared to its average volume of 10,155. Chain Bridge Bancorp has a 1 year low of $20.01 and a 1 year high of $27.97. The company's 50 day moving average is $26.19 and its two-hundred day moving average is $24.87. The firm has a market cap of $173.15 million and a PE ratio of 6.98.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last posted its 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. Chain Bridge Bancorp had a return on equity of 16.04% and a net margin of 35.57%. The firm had revenue of $12.62 million for the quarter, compared to the consensus estimate of $11.99 million. As a group, equities analysts expect that Chain Bridge Bancorp will post 2.22 EPS for the current fiscal year.

Insider Activity at Chain Bridge Bancorp

In other news, major shareholder Martin S. Friedman sold 32,158 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $27.01, for a total value of $868,587.58. Following the sale, the insider directly owned 306,078 shares of the company's stock, valued at $8,267,166.78. The trade was a 9.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 25.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Chain Bridge Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in shares of Chain Bridge Bancorp during the 1st quarter valued at $131,000. Covestor Ltd bought a new position in shares of Chain Bridge Bancorp during the 4th quarter valued at $151,000. Bank of America Corp DE bought a new position in shares of Chain Bridge Bancorp during the 4th quarter valued at $210,000. Silvia Mccoll Wealth Management LLC bought a new position in shares of Chain Bridge Bancorp during the 1st quarter valued at $222,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of Chain Bridge Bancorp during the 1st quarter valued at $309,000.

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.