Geode Capital Management LLC Takes $507,000 Position in Chain Bridge Bancorp, Inc. (NYSE:CBNA)

Geode Capital Management LLC purchased a new position in shares of Chain Bridge Bancorp, Inc. (NYSE:CBNA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 20,220 shares of the company’s stock, valued at approximately $507,000. Geode Capital Management LLC owned 0.31% of Chain Bridge Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Alliancebernstein L.P. acquired a new stake in shares of Chain Bridge Bancorp during the 4th quarter worth $5,408,000. Royce & Associates LP bought a new stake in Chain Bridge Bancorp during the fourth quarter worth about $1,692,000. TCW Group Inc. acquired a new stake in Chain Bridge Bancorp during the fourth quarter worth about $2,030,000. Finally, Chevy Chase Trust Holdings LLC bought a new position in Chain Bridge Bancorp in the 4th quarter valued at about $226,000.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CBNA. Piper Sandler reduced their price target on shares of Chain Bridge Bancorp from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Raymond James restated a “strong-buy” rating and set a $34.00 target price (up from $29.00) on shares of Chain Bridge Bancorp in a research note on Thursday, January 30th.

Chain Bridge Bancorp Stock Performance

CBNA opened at $24.92 on Friday. The company’s 50 day moving average is $23.38 and its 200-day moving average is $23.90. Chain Bridge Bancorp, Inc. has a 1-year low of $20.01 and a 1-year high of $27.56.

Chain Bridge Bancorp (NYSE:CBNA) last issued its earnings results 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 company had revenue of $14.54 million during the quarter, compared to analyst estimates of $12.27 million. On average, equities analysts expect that Chain Bridge Bancorp, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In other Chain Bridge Bancorp news, major shareholder Martin S. Friedman bought 1,088 shares of Chain Bridge Bancorp stock in a transaction on Friday, February 21st. The shares were purchased at an average cost of $24.49 per share, with a total value of $26,645.12. Following the acquisition, the insider now directly owns 312,528 shares of the company’s stock, valued at $7,653,810.72. The trade was a 0.35 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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.