Chain Bridge Bancorp (NYSE:CBNA) Now Covered by Analysts at Piper Sandler

Piper Sandler started coverage on shares of Chain Bridge Bancorp (NYSE:CBNA) in a research report sent to investors on Monday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $39.00 price objective on the stock.

CBNA has been the subject of a number of other reports. Raymond James Financial cut Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, January 7th. Zacks Research upgraded Chain Bridge Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Chain Bridge Bancorp in a report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Chain Bridge Bancorp currently has a consensus rating of “Reduce” and an average price target of $38.00.

Chain Bridge Bancorp Stock Up 1.2%

NYSE:CBNA opened at $35.60 on Monday. Chain Bridge Bancorp has a 52 week low of $20.01 and a 52 week high of $38.42. The stock’s 50-day moving average price is $34.85 and its 200-day moving average price is $33.14. The stock has a market capitalization of $233.61 million, a PE ratio of 11.56 and a beta of 0.53.

Chain Bridge Bancorp (NYSE:CBNA) last released its quarterly earnings results on Wednesday, January 28th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. The company had revenue of $14.70 million during the quarter, compared to analysts’ expectations of $13.66 million. Chain Bridge Bancorp had a return on equity of 12.88% and a net margin of 34.11%. Sell-side analysts expect that Chain Bridge Bancorp will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider James R. Pollock bought 714 shares of Chain Bridge Bancorp stock in a transaction on Thursday, March 5th. The stock was acquired at an average price of $35.25 per share, with a total value of $25,168.50. Following the completion of the acquisition, the insider directly owned 3,845 shares of the company’s stock, valued at $135,536.25. The trade was a 22.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 25.85% of the company’s stock.

Institutional Trading of Chain Bridge Bancorp

A number of institutional investors have recently made changes to their positions in CBNA. State Street Corp increased its position in shares of Chain Bridge Bancorp by 2.2% during the fourth quarter. State Street Corp now owns 18,889 shares of the company’s stock worth $654,000 after purchasing an additional 400 shares in the last quarter. Barclays PLC lifted its holdings in Chain Bridge Bancorp by 9.1% in the 4th quarter. Barclays PLC now owns 6,303 shares of the company’s stock valued at $218,000 after purchasing an additional 525 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Chain Bridge Bancorp by 49.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,449 shares of the company’s stock valued at $85,000 after purchasing an additional 815 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in Chain Bridge Bancorp during the 2nd quarter worth $29,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Chain Bridge Bancorp during the 2nd quarter worth $33,000.

About Chain Bridge Bancorp

Chain Bridge Bancorp, Inc (NYSE: CBNA) is the bank holding company for Chain Bridge Bank, a full-service community commercial bank headquartered in Oakton, Virginia. Founded in 1999, the company is focused on serving small- and middle-market businesses, professional firms and individual clients throughout the Washington, DC metropolitan area.

Through its subsidiary, Chain Bridge Bank provides a comprehensive suite of deposit products, including checking, savings and money market accounts, as well as time deposits.