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

Chain Bridge Bancorp’s (NYSE:CBNA) lock-up period will expire 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 the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analysts Set New Price Targets

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

Chain Bridge Bancorp Trading Down 0.6 %

Shares of NYSE:CBNA opened at $24.29 on Friday. Chain Bridge Bancorp has a 12 month low of $20.10 and a 12 month high of $27.56. The business’s 50 day moving average price is $23.99.

Chain Bridge Bancorp (NYSE:CBNA) last announced its earnings results on Tuesday, February 4th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.44 by $0.15. As a group, analysts anticipate that Chain Bridge Bancorp will post 2.22 earnings per share for the current fiscal year.

Insider Transactions at Chain Bridge Bancorp

In related news, major shareholder Martin S. Friedman bought 1,088 shares of the company’s stock in a transaction on Friday, February 21st. The stock was bought at an average cost of $24.49 per share, with a total value of $26,645.12. Following the completion of the purchase, the insider now owns 312,528 shares in the company, valued at approximately $7,653,810.72. The trade was a 0.35 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Trading of Chain Bridge Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd acquired a new position in Chain Bridge Bancorp during the 4th quarter worth $151,000. Bank of America Corp DE acquired a new position in shares of Chain Bridge Bancorp during the fourth quarter valued at $210,000. Chevy Chase Trust Holdings LLC bought a new position in Chain Bridge Bancorp in the fourth quarter valued at about $226,000. Geode Capital Management LLC acquired a new stake in Chain Bridge Bancorp in the fourth quarter worth about $507,000. Finally, Royce & Associates LP acquired a new stake in Chain Bridge Bancorp in the fourth quarter worth about $1,692,000.

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.