B. Riley Financial Increases Chime Financial (NASDAQ:CHYM) Price Target to $44.00

Chime Financial (NASDAQ:CHYM) had its target price upped by investment analysts at B. Riley Financial from $37.00 to $44.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s price target would suggest a potential upside of 28.71% from the company’s current price.

Other equities research analysts have also issued reports about the stock. UBS Group increased their target price on shares of Chime Financial from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 9th. Morgan Stanley raised their price objective on Chime Financial from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, September 9th. KeyCorp upped their target price on shares of Chime Financial from $33.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, September 9th. Keefe, Bruyette & Woods increased their target price on shares of Chime Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, Loop Capital assumed coverage on shares of Chime Financial in a research note on Wednesday, September 9th. They issued a “buy” rating and a $45.00 price target on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $36.20.

Chime Financial Price Performance

Shares of Chime Financial stock traded up $1.19 during trading on Monday, hitting $34.19. The stock had a trading volume of 4,539,328 shares, compared to its average volume of 5,378,214. Chime Financial has a 12 month low of $15.88 and a 12 month high of $35.55. The firm’s fifty day simple moving average is $27.73 and its 200-day simple moving average is $22.52. The stock has a market cap of $12.94 billion, a PE ratio of -488.12 and a beta of 0.60.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The firm had revenue of $669.77 million for the quarter. During the same period in the prior year, the company posted ($7.29) EPS. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. Analysts expect that Chime Financial will post 0.44 earnings per share for the current fiscal year.

Insider Activity at Chime Financial

In other Chime Financial news, CAO Amine Asmerom sold 19,505 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $32.94, for a total transaction of $642,494.70. Following the completion of the sale, the chief accounting officer owned 280,975 shares of the company’s stock, valued at $9,255,316.50. This represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Global Advisors Ltd Dst sold 59,630 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $35.03, for a total value of $2,088,838.90. Following the completion of the sale, the insider owned 368,812 shares in the company, valued at $12,919,484.36. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,998,346 shares of company stock worth $455,195,655 in the last ninety days. 12.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Chime Financial

A number of institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. acquired a new position in shares of Chime Financial during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Chime Financial in the 2nd quarter valued at approximately $33,000. Scopus Asset Management L.P. bought a new stake in Chime Financial during the 2nd quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd increased 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 buying an additional 1,276 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in Chime Financial in the second quarter valued at $40,000.

About Chime Financial

Chime Financial, Inc is a financial technology company that operates a digital banking platform in the United States. Chime provides consumer-focused banking services through its mobile application and website, offering checking and savings accounts, debit cards, direct-deposit services and tools designed to help customers manage their everyday finances. Chime is not a traditional bank; its banking services are provided through partner financial institutions.

The company’s products include a Visa debit card, fee-free overdraft protection through SpotMe for eligible members, early access to qualifying direct deposits, savings features and credit-building products.