Chain Bridge Bancorp (NYSE:CBNA) Trading 0.5% Higher - Time to Buy?

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

Wall Street Analyst Weigh In

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

Chain Bridge Bancorp Stock Performance

The firm has a 50 day moving average of $26.18 and a 200 day moving average of $24.68.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.31. The firm had revenue of $14.54 million during the quarter, compared to analyst estimates of $12.27 million. Analysts forecast that Chain Bridge Bancorp, Inc. will post 2.22 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Martin S. Friedman sold 32,158 shares of Chain Bridge Bancorp stock in a transaction 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chain Bridge Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP purchased a new position in shares of Chain Bridge Bancorp in the 4th quarter worth about $1,692,000. Alliancebernstein L.P. bought a new stake in shares of Chain Bridge Bancorp in the 4th quarter valued at about $5,408,000. Geode Capital Management LLC bought a new stake in shares of Chain Bridge Bancorp in the 4th quarter valued at about $507,000. Endeavour Capital Advisors Inc. bought a new stake in shares of Chain Bridge Bancorp in the 4th quarter valued at about $4,504,000. Finally, Gator Capital Management LLC bought a new stake in shares of Chain Bridge Bancorp in the 4th quarter valued at about $5,052,000.

Chain Bridge Bancorp Company Profile

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.