Chain Bridge Bancorp (NYSE:CBNA) Stock Price Up 0.5% - Time to Buy?

Chain Bridge Bancorp, Inc. (NYSE:CBNA - Get Free Report) shares rose 0.5% on Wednesday . The company traded as high as $26.88 and last traded at $26.85. Approximately 11,320 shares traded hands during trading, a decline of 58% from the average daily volume of 26,768 shares. The stock had previously closed at $26.72.

Analyst Ratings Changes

Separately, Piper Sandler lowered shares of Chain Bridge Bancorp from an "overweight" rating to a "neutral" rating and set a $29.00 target price for the company. in a research note on Thursday, May 29th.

Chain Bridge Bancorp Trading Up 0.5%

The stock's fifty day simple moving average is $26.09 and its 200 day simple moving average is $24.64.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.31. The business had revenue of $14.54 million for the quarter, compared to analysts' expectations of $12.27 million. As a group, equities research analysts predict that Chain Bridge Bancorp, Inc. will post 2.22 EPS for the current year.

Insider Buying and Selling

In other Chain Bridge Bancorp news, major shareholder Martin S. Friedman sold 32,158 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $27.01, for a total value of $868,587.58. Following the completion of the transaction, the insider directly owned 306,078 shares in the company, valued at $8,267,166.78. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 25.85% of the company's stock.

Hedge Funds Weigh In On Chain Bridge Bancorp

A number of hedge funds have recently modified their holdings of CBNA. FJ Capital Management LLC boosted its position in shares of Chain Bridge Bancorp by 193.3% in the first quarter. FJ Capital Management LLC now owns 338,236 shares of the company's stock worth $8,043,000 after purchasing an additional 222,934 shares during the period. Alliancebernstein L.P. bought a new position in shares of Chain Bridge Bancorp in the fourth quarter worth approximately $5,408,000. Gator Capital Management LLC bought a new position in shares of Chain Bridge Bancorp in the fourth quarter worth approximately $5,052,000. Endeavour Capital Advisors Inc. bought a new position in shares of Chain Bridge Bancorp in the fourth quarter worth approximately $4,504,000. Finally, Nuveen Asset Management LLC bought a new position in shares of Chain Bridge Bancorp in the fourth quarter worth approximately $3,702,000.

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.

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