Raymond James Initiates Coverage on Chain Bridge Bancorp (NYSE:CBNA)

Raymond James began coverage on shares of Chain Bridge Bancorp (NYSE:CBNA) in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage set a “strong-buy” rating and a $29.00 price target on the stock. Raymond James’ target price would indicate a potential upside of 39.09% from the company’s current price.

Chain Bridge Bancorp Price Performance

Shares of NYSE:CBNA opened at $20.85 on Tuesday. Chain Bridge Bancorp has a 1 year low of $20.10 and a 1 year high of $22.15.

Insider Buying and Selling

In related news, CEO John J. Brough purchased 1,252 shares of Chain Bridge Bancorp stock in a transaction on Thursday, October 3rd. The stock was acquired at an average cost of $22.00 per share, for a total transaction of $27,544.00. Following the completion of the acquisition, the chief executive officer now owns 1,252 shares of the company’s stock, valued at $27,544. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider James R. Pollock purchased 3,131 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were bought at an average cost of $22.00 per share, with a total value of $68,882.00. Following the completion of the transaction, the insider now directly owns 3,131 shares of the company’s stock, valued at approximately $68,882. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John J. Brough acquired 1,252 shares of Chain Bridge Bancorp stock in a transaction on Thursday, October 3rd. The stock was purchased at an average cost of $22.00 per share, with a total value of $27,544.00. Following the completion of the transaction, the chief executive officer now directly owns 1,252 shares in the company, valued at $27,544. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,943 shares of company stock valued at $152,746 over the last ninety days.

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.