Chain Bridge Bancorp (NYSE:CBNA) Trading Up 0.5% - Here's Why

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

Analysts Set New Price Targets

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

Chain Bridge Bancorp Stock Performance

The business's 50 day simple moving average is $26.09 and its two-hundred day simple moving average is $24.64.

Chain Bridge Bancorp (NYSE:CBNA - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.31. The firm had revenue of $14.54 million for the quarter, compared to the consensus estimate of $12.27 million. On average, equities research analysts predict that Chain Bridge Bancorp, Inc. will post 2.22 earnings per share for the current year.

Insiders Place Their Bets

In other Chain Bridge Bancorp news, major shareholder Martin S. Friedman sold 32,158 shares of the firm'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 completion of the sale, the insider directly owned 306,078 shares in the company, valued at approximately $8,267,166.78. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 25.85% of the company's stock.

Institutional Trading of Chain Bridge Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of CBNA. FJ Capital Management LLC boosted its holdings in shares of Chain Bridge Bancorp by 193.3% during the 1st quarter. FJ Capital Management LLC now owns 338,236 shares of the company's stock valued at $8,043,000 after acquiring an additional 222,934 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in shares of Chain Bridge Bancorp during the 4th quarter valued at about $5,408,000. Gator Capital Management LLC boosted its holdings in shares of Chain Bridge Bancorp by 0.5% during the 1st quarter. Gator Capital Management LLC now owns 202,500 shares of the company's stock valued at $4,815,000 after acquiring an additional 1,000 shares during the last quarter. Endeavour Capital Advisors Inc. purchased a new stake in shares of Chain Bridge Bancorp during the 4th quarter valued at about $4,504,000. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Chain Bridge Bancorp during the 4th quarter valued at about $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.