Chain Bridge Bancorp, Inc.’s (NYSE:CBNA) Quiet Period Will End on November 13th

Chain Bridge Bancorp’s (NYSE:CBNA) quiet period will expire on Wednesday, November 13th. Chain Bridge Bancorp had issued 1,850,000 shares in its initial public offering on October 4th. The total size of the offering was $40,700,000 based on an initial share price of $22.00. During Chain Bridge Bancorp’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

Several analysts have recently commented on CBNA shares. Piper Sandler began coverage on shares of Chain Bridge Bancorp in a research report on Tuesday, October 29th. They set an “overweight” rating and a $27.00 price objective on the stock. Raymond James initiated coverage on Chain Bridge Bancorp in a report on Tuesday, October 29th. They set a “strong-buy” rating and a $29.00 price target on the stock.

Chain Bridge Bancorp Price Performance

Shares of CBNA opened at $22.61 on Wednesday. Chain Bridge Bancorp has a 1 year low of $20.10 and a 1 year high of $24.59.

Insider Buying and Selling

In related news, CEO John J. Brough purchased 1,252 shares of Chain Bridge Bancorp stock in a transaction on Thursday, October 3rd. The shares were bought at an average cost of $22.00 per share, for a total transaction of $27,544.00. Following the acquisition, the chief executive officer now owns 1,252 shares in the company, valued at approximately $27,544. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO John J. Brough acquired 1,252 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were acquired at an average cost of $22.00 per share, with a total value of $27,544.00. Following the acquisition, the chief executive officer now directly owns 1,252 shares of the company’s stock, valued at approximately $27,544. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James R. Pollock bought 3,131 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was acquired at an average cost of $22.00 per share, with a total value of $68,882.00. Following the completion of the acquisition, the insider now owns 3,131 shares of the company’s stock, valued at $68,882. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 6,943 shares of company stock worth $152,746.

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.