Chain Bridge Bancorp, Inc.’s (NYSE:CBNA) Lock-Up Period To Expire on April 2nd

Chain Bridge Bancorp’s (NYSE:CBNA) lock-up period is set to end on Wednesday, April 2nd. Chain Bridge Bancorp had issued 1,850,000 shares in its public offering on October 4th. The total size of the offering was $40,700,000 based on an initial share price of $22.00. After the expiration of Chain Bridge Bancorp’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analysts Set New Price Targets

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

Chain Bridge Bancorp Stock Down 0.6 %

Shares of NYSE:CBNA opened at $24.29 on Friday. The firm has a 50 day moving average price of $23.99. Chain Bridge Bancorp has a 52 week low of $20.10 and a 52 week high of $27.56.

Chain Bridge Bancorp (NYSE:CBNA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.15. On average, research analysts anticipate that Chain Bridge Bancorp will post 2.22 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Martin S. Friedman purchased 16,194 shares of Chain Bridge Bancorp stock in a transaction dated Monday, February 24th. The stock was bought at an average price of $24.46 per share, for a total transaction of $396,105.24. Following the completion of the acquisition, the insider now directly owns 328,722 shares of the company’s stock, valued at $8,040,540.12. This represents a 5.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Chain Bridge Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in CBNA. Chevy Chase Trust Holdings LLC bought a new position in Chain Bridge Bancorp during the 4th quarter worth about $226,000. TCW Group Inc. acquired a new position in shares of Chain Bridge Bancorp during the fourth quarter worth about $2,030,000. Royce & Associates LP bought a new position in shares of Chain Bridge Bancorp during the fourth quarter worth about $1,692,000. Alliancebernstein L.P. bought a new position in shares of Chain Bridge Bancorp during the fourth quarter worth about $5,408,000. Finally, Geode Capital Management LLC acquired a new stake in Chain Bridge Bancorp in the 4th quarter valued at approximately $507,000.

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.