Chain Bridge Bancorp price target raised to $34 from $29 at Raymond James

Raymond James analyst Steve Moss raised the firm’s price target on Chain Bridge Bancorp (CBNA) to $34 from $29 and keeps a Strong Buy rating on the shares. The “impressive” Q4 results included more resilient than expected deposit balances, supported by a Republican sweep in the 2024 Federal election and the migration of roughly $130M of deposits from off-balance sheet to on-balance sheet, the analyst tells investors in a research note. The firm expects relatively stable deposit balances for the first half of 2025, with growth thereafter, in-line with prior election cycles.