Chain Bridge Bancorp, Inc.’s (NYSE:CBNA) Lock-Up Period Set To Expire Tomorrow

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 IPO on October 4th. The total size of the offering was $40,700,000 based on an initial share price of $22.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Piper Sandler cut 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. Raymond James reissued a “strong-buy” rating and set a $34.00 target price (up previously from $29.00) on shares of Chain Bridge Bancorp in a research report on Thursday, January 30th.

Chain Bridge Bancorp Stock Performance

Shares of NYSE CBNA opened at $23.80 on Tuesday. The business has a 50-day simple moving average of $23.98. Chain Bridge Bancorp has a twelve month low of $20.10 and a twelve month high of $27.56.

Chain Bridge Bancorp (NYSE:CBNA) last issued its earnings results on Tuesday, February 4th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.15. Research analysts forecast that Chain Bridge Bancorp will post 2.22 EPS for the current fiscal year.

Insider Activity at Chain Bridge Bancorp

In related news, major shareholder Martin S. Friedman acquired 16,194 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was acquired at an average cost of $24.46 per share, for a total transaction of $396,105.24. Following the acquisition, the insider now owns 328,722 shares of the company’s stock, valued at $8,040,540.12. This trade represents a 5.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Investors Weigh In On Chain Bridge Bancorp

Hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. bought a new position in Chain Bridge Bancorp during the 4th quarter valued at approximately $5,408,000. Gator Capital Management LLC purchased a new position in Chain Bridge Bancorp in the fourth quarter worth about $5,052,000. Endeavour Capital Advisors Inc. bought a new stake in Chain Bridge Bancorp during the fourth quarter valued at approximately $4,504,000. Nuveen Asset Management LLC purchased a new stake in Chain Bridge Bancorp during the fourth quarter valued at approximately $3,702,000. Finally, FJ Capital Management LLC bought a new position in Chain Bridge Bancorp in the fourth quarter worth approximately $2,891,000.

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.