Norges Bank bought a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 770,423 shares of the company’s stock, valued at approximately $19,392,000. Norges Bank owned approximately 0.21% of Chime Financial as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CHYM. PNC Financial Services Group Inc. purchased a new stake in shares of Chime Financial during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Chime Financial during the 2nd quarter worth about $33,000. Scopus Asset Management L.P. purchased a new stake in shares of Chime Financial during the 2nd quarter worth about $34,000. Daiwa Securities Group Inc. purchased a new stake in shares of Chime Financial during the 2nd quarter worth about $40,000. Finally, Osaic Holdings Inc. purchased a new stake in shares of Chime Financial during the 2nd quarter worth about $45,000.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on CHYM shares. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. KeyCorp began coverage on shares of Chime Financial in a research note on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price target on the stock. BMO Capital Markets began coverage on shares of Chime Financial in a research note on Wednesday, April 22nd. They issued an “outperform” rating and a $30.00 price target on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chime Financial in a research note on Wednesday, June 3rd. Finally, UBS Group raised their price target on shares of Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.65.
Chime Financial Trading Down 2.8%
CHYM stock opened at $17.07 on Wednesday. The company has a market cap of $6.50 billion and a price-to-earnings ratio of -2.30. Chime Financial, Inc. has a 12 month low of $16.17 and a 12 month high of $44.94. The firm has a 50-day moving average of $19.64 and a two-hundred day moving average of $21.95.
Chime Financial (NASDAQ:CHYM – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The company had revenue of $647.39 million during the quarter. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, equities analysts forecast that Chime Financial, Inc. will post 0.3 earnings per share for the current year.
Chime Financial Company Profile
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.
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