Chain Bridge Bancorp price target raised to $28 from $27 at Piper Sandler

Piper Sandler analyst Mark Fitzgibbon raised the firm’s price target on Chain Bridge Bancorp (CBNA) to $28 from $27 and keeps an Overweight rating on the shares. The firm notes the company reported EPS of $1.64. After excluding modest securities losses, it pegs core EPS at $1.65. This compares to Piper’s estimate of $1.00. Recall, Chain Bridge Bancorp completed its IPO after the end of the quarter. Therefore, Q3 results do not include the impact of the offering, the firm adds.