Money Concepts Capital Corp Makes New $807,000 Investment in Chime Financial, Inc. $CHYM

Money Concepts Capital Corp bought a new stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 40,020 shares of the company’s stock, valued at approximately $807,000.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CHYM shares. Piper Sandler decreased their price target on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. UBS Group lowered their price target on shares of Chime Financial from $37.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Jefferies Financial Group started coverage on shares of Chime Financial in a research note on Monday, November 3rd. They set a “hold” rating and a $17.00 price objective for the company. B. Riley started coverage on Chime Financial in a report on Thursday, December 11th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Rothschild & Co Redburn assumed coverage on Chime Financial in a report on Monday, January 26th. They set a “neutral” rating and a $29.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Chime Financial has a consensus rating of “Moderate Buy” and an average price target of $32.24.

Chime Financial Stock Down 9.0%

NASDAQ:CHYM opened at $21.86 on Wednesday. Chime Financial, Inc. has a 12-month low of $16.17 and a 12-month high of $44.94. The firm has a market capitalization of $8.19 billion and a price-to-earnings ratio of -2.94. The stock’s 50 day moving average price is $25.40 and its two-hundred day moving average price is $24.48.

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

Insider Activity at Chime Financial

In other news, General Counsel Adam B. Frankel sold 6,760 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $23.84, for a total transaction of $161,158.40. Following the completion of the sale, the general counsel owned 244,416 shares in the company, valued at approximately $5,826,877.44. This trade represents a 2.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher R. Britt sold 50,000 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $28.06, for a total transaction of $1,403,000.00. The SEC filing for this sale provides additional information. In the last three months, insiders sold 256,539 shares of company stock valued at $6,973,943.

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.