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

Chain Bridge Bancorp’s (NYSE:CBNA) lock-up period is set to 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. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CBNA shares. Piper Sandler dropped their price target on shares of Chain Bridge Bancorp from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Raymond James reaffirmed a “strong-buy” rating and issued a $34.00 target price (up previously from $29.00) on shares of Chain Bridge Bancorp in a report on Thursday, January 30th.

Chain Bridge Bancorp Stock Performance

NYSE CBNA opened at $23.80 on Tuesday. Chain Bridge Bancorp has a 12 month low of $20.10 and a 12 month high of $27.56. The business has a 50 day simple moving average of $23.98.

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

Insider Activity at Chain Bridge Bancorp

In related news, major shareholder Martin S. Friedman bought 16,194 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were purchased at an average price of $24.46 per share, with a total value of $396,105.24. Following the transaction, the insider now owns 328,722 shares in the company, valued at $8,040,540.12. This trade represents a 5.18 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

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

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.