Chime Financial (NASDAQ:CHYM) Coverage Initiated at KeyCorp

KeyCorp assumed coverage on shares of Chime Financial (NASDAQ:CHYM) in a research report issued on Tuesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $30.00 price target on the stock. KeyCorp’s target price would indicate a potential upside of 29.20% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on CHYM. 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 price objective for the company. Piper Sandler lowered their price objective on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. UBS Group boosted their target price on shares of Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, February 26th. B. Riley Financial initiated coverage on Chime Financial in a research note on Thursday, December 11th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Williams Trading set a $17.00 price objective on shares of Chime Financial in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Chime Financial has an average rating of “Moderate Buy” and a consensus price target of $32.28.

Chime Financial Stock Up 3.1%

Chime Financial stock traded up $0.70 during trading on Tuesday, hitting $23.22. The stock had a trading volume of 3,355,475 shares, compared to its average volume of 3,335,168. Chime Financial has a 1 year low of $16.17 and a 1 year high of $44.94. The stock’s 50 day moving average is $24.12 and its two-hundred day moving average is $22.86. The stock has a market cap of $8.70 billion and a price-to-earnings ratio of -3.07.

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

Insider Buying and Selling

In other news, CEO Christopher R. Britt sold 50,000 shares of Chime Financial stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $28.06, for a total value of $1,403,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Feuille sold 176,168 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $27.12, for a total transaction of $4,777,676.16. Following the transaction, the director owned 7,044,936 shares in the company, valued at $191,058,664.32. The trade was a 2.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 256,539 shares of company stock valued at $6,973,943.

Institutional Investors Weigh In On Chime Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new stake in shares of Chime Financial during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Chime Financial in the second quarter worth $33,000. Scopus Asset Management L.P. acquired a new position in shares of Chime Financial during the second quarter worth about $34,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Chime Financial by 686.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after purchasing an additional 1,276 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in Chime Financial in the 2nd quarter valued at about $40,000.

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.