Piper Sandler Starts Chain Bridge Bancorp (CBNA) at Overweight

Piper Sandler analyst Mark Fitzgibbon initiates coverage on Chain Bridge Bancorp (NYSE: CBNA) with a Overweight rating and a price target of $27.00.

The analyst comments: "Initiating at Overweight. We are initiating coverage of Chain Bridge Bancorp, Inc. (NYSE: CBNA) with an Overweight rating and a 12-month price target of $27. Our target assumes that shares of CBNA will trade to ~120% of our estimate of TBVPS in one year's time. When considering the sizable volatility and cyclicality of the company’s earnings stream, we believe that a Price/TBVPS book value approach for CBNA is more appropriate versus placing a multiple on forward earnings. Our price target implies potential upside of ~28%."

For an analyst ratings summary and ratings history on Chain Bridge Bancorp click here. For more ratings news on Chain Bridge Bancorp click here.

Shares of Chain Bridge Bancorp closed at $21.15 yesterday.

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