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

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CBNA shares. Raymond James reissued a “strong-buy” rating and issued a $34.00 target price (up previously from $29.00) on shares of Chain Bridge Bancorp in a research report on Thursday, January 30th. Piper Sandler cut their price objective 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 Trading Up 0.4 %

Shares of CBNA opened at $23.42 on Wednesday. Chain Bridge Bancorp has a fifty-two week low of $20.10 and a fifty-two week high of $27.56. The business’s 50 day simple moving average is $24.00.

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

Insider Buying and Selling at Chain Bridge Bancorp

In other news, major shareholder Martin S. Friedman acquired 16,194 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was acquired at an average cost 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 approximately $8,040,540.12. This trade represents a 5.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Trading of Chain Bridge Bancorp

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