Federated Hermes Inc. Buys New Shares in Chime Financial, Inc. $CHYM

Federated Hermes Inc. purchased a new stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 777,107 shares of the company’s stock, valued at approximately $26,818,000. Federated Hermes Inc. owned about 0.21% of Chime Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CHYM. EverSource Wealth Advisors LLC bought a new stake in shares of Chime Financial during the 2nd quarter worth approximately $33,000. Emerald Mutual Fund Advisers Trust acquired a new position in Chime Financial during the second quarter worth $113,000. Legal & General Group Plc bought a new stake in Chime Financial during the second quarter worth $136,000. ANTIPODES PARTNERS Ltd bought a new stake in Chime Financial during the second quarter worth $173,000. Finally, Hennessy Advisors Inc. acquired a new stake in Chime Financial in the second quarter valued at $207,000.

Chime Financial Stock Performance

Chime Financial stock opened at $24.29 on Wednesday. Chime Financial, Inc. has a 12 month low of $16.17 and a 12 month high of $44.94. The company has a 50 day moving average price of $19.78.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.10. The firm had revenue of $543.52 million during the quarter. During the same period in the previous year, the business earned ($0.34) EPS. Chime Financial’s revenue for the quarter was up 28.8% compared to the same quarter last year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Chime Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $26.00 to $27.00 in a research note on Monday, December 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $40.00 price target on shares of Chime Financial in a report on Thursday, October 30th. Piper Sandler lowered their price target on Chime Financial from $35.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Keefe, Bruyette & Woods cut their price objective on Chime Financial from $42.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Finally, Jefferies Financial Group started coverage on Chime Financial in a research note on Monday, November 3rd. They set a “hold” rating and a $17.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Chime Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.07.

Chime Financial Profile

Chime is a financial technology company that partners with federally regulated, FDIC-insured banks—The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC—to provide consumer banking products and services. The company’s model is designed to eliminate common fees and simplify access to basic financial services.

Chime does not charge overdraft fees, monthly service fees, or require minimum balances.