Chime Financial, Inc. $CHYM Position Increased by Davis Selected Advisers

Davis Selected Advisers raised its holdings in shares of Chime Financial, Inc. (NASDAQ:CHYM) by 3.0% in the 4th quarter, Holdings Channel reports. The firm owned 2,472,106 shares of the company’s stock after purchasing an additional 72,940 shares during the quarter. Davis Selected Advisers’ holdings in Chime Financial were worth $62,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new stake in Chime Financial during the second quarter valued at $33,000. Scopus Asset Management L.P. bought a new stake in Chime Financial during the second quarter valued at $34,000. Daiwa Securities Group Inc. bought a new position in shares of Chime Financial during the second quarter worth about $40,000. Osaic Holdings Inc. bought a new position in shares of Chime Financial during the second quarter worth about $45,000. Finally, Farther Finance Advisors LLC bought a new position in shares of Chime Financial during the third quarter worth about $50,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CHYM shares. BMO Capital Markets started coverage on shares of Chime Financial in a research report on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 price target for the company. Wells Fargo & Company started coverage on shares of Chime Financial in a research report on Monday, April 13th. They set an “overweight” rating and a $25.00 price target for the company. Rothschild & Co Redburn upgraded shares of Chime Financial to a “hold” rating in a research report on Monday, January 26th. The Goldman Sachs Group upped their price target on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, KeyCorp started coverage on shares of Chime Financial in a research report on Wednesday, March 4th. They set an “overweight” rating and a $30.00 price target for the company. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chime Financial currently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Chime Financial Stock Performance

Chime Financial stock opened at $22.24 on Friday. The company has a 50-day simple moving average of $20.98 and a 200-day simple moving average of $22.00. The firm has a market capitalization of $8.54 billion and a P/E ratio of -2.94. Chime Financial, Inc. has a one year low of $16.17 and a one year high of $44.94.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.08. The business had revenue of $596.36 million during the quarter. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.90%. The business’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.30) EPS. As a group, sell-side analysts forecast that Chime Financial, Inc. will post 0.15 earnings per share for the current year.

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.