Piper Sandler cuts Chain Bridge Bancorp to 'neutral' after strong run
ReutersMay 29, 2025 12:05 PM
Piper Sandler downgrades Chain Bridge Bancorp CBNA.N, a lender popular among Republicans since its inception, to "neutral" from "overweight"
Says CBNA shares are now trading only 8% below its $29 PT, driving the brokerage to downgrade its rating
CBNA stock closed up 1.2% at $26.96 on Wednesday
Brokerage still likes the bank's differentiated strategy but sees limited near-time upside potential in the stock
CBNA went public last year after a 1.85 million share IPO priced at $22 apiece
1 of 3 brokerages rate the stock "strong buy" and 2 "hold"; median PT $29 - data compiled by LSEG
As of last close, CBNA stock up 7.5% YTD
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