Chime Financial (NASDAQ:CHYM) Research Coverage Started at KeyCorp

KeyCorp initiated coverage on shares of Chime Financial (NASDAQ:CHYM) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $30.00 target price on the stock.

Several other equities analysts have also issued reports on the company. Rothschild & Co Redburn upgraded Chime Financial to a “hold” rating in a research note on Monday, January 26th. B. Riley Financial began coverage on shares of Chime Financial in a report on Thursday, December 11th. They issued a “buy” rating and a $35.00 price target on the stock. Williams Trading set a $17.00 price objective on shares of Chime Financial in a research report on Monday, November 3rd. The Goldman Sachs Group boosted their price objective on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Jefferies Financial Group initiated coverage on shares of Chime Financial in a research note on Monday, November 3rd. They issued a “hold” rating and a $17.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chime Financial has a consensus rating of “Moderate Buy” and a consensus target price of $32.28.

Chime Financial Stock Up 2.6%

Shares of NASDAQ:CHYM opened at $23.11 on Tuesday. The firm has a 50 day moving average of $24.04 and a 200 day moving average of $22.86. The company has a market capitalization of $8.66 billion and a price-to-earnings ratio of -3.06. Chime Financial has a 52 week low of $16.17 and a 52 week high of $44.94.

Chime Financial (NASDAQ:CHYM) last announced its earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.08. The business had revenue of $596.36 million for the quarter. Chime Financial had a negative return on equity of 70.35% and a negative net margin of 46.18%.The firm’s revenue was up 25.5% compared to the same quarter last year. During the same period last year, the business posted ($0.30) EPS.

Insider Activity at Chime Financial

In other Chime Financial news, Director James Feuille sold 7,229 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $24.82, for a total transaction of $179,423.78. Following the sale, the director owned 7,037,707 shares of the company’s stock, valued at approximately $174,675,887.74. The trade was a 0.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew S. Newcomb sold 10,000 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $28.01, for a total transaction of $280,100.00. Following the completion of the transaction, the chief financial officer directly owned 2,240,798 shares of the company’s stock, valued at approximately $62,764,751.98. This represents a 0.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 256,539 shares of company stock worth $6,973,943 in the last quarter.

Institutional Trading of Chime Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHYM. Geode Capital Management LLC acquired a new stake in Chime Financial during the 2nd quarter valued at approximately $9,519,000. Norges Bank acquired a new position in Chime Financial during the second quarter valued at $24,157,000. Federated Hermes Inc. boosted its holdings in Chime Financial by 11.1% in the third quarter. Federated Hermes Inc. now owns 863,700 shares of the company’s stock valued at $17,421,000 after purchasing an additional 86,593 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Chime Financial by 1,203.2% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 81,450 shares of the company’s stock valued at $1,643,000 after purchasing an additional 75,200 shares during the last quarter. Finally, Seven Grand Managers LLC acquired a new stake in Chime Financial during the 2nd quarter worth about $3,451,000.

About Chime Financial

Chime Financial is a U.S.-based financial technology company offering mobile-first banking services designed to reduce fees and simplify everyday transactions. Founded in 2013 and headquartered in San Francisco, Chime operates a digital bank platform that provides customers with a checking account, a savings account, and a debit card without monthly maintenance fees, overdraft charges, or foreign transaction fees. The company’s platform is accessible via its mobile app, enabling users to manage their finances, track spending, and access customer support from their smartphones.

At the core of Chime’s service offering is its fee-free spending account, which includes early access to direct deposit funds—up to two days before scheduled payday—and instant transaction alerts.