BUZZ-Piper Sandler cuts <a href="https://laohu8.com/S/CBNA">Chain Bridge Bancorp</a> to 'neutral' after strong run** 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
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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