40,000 Shares in Chime Financial, Inc. $CHYM Bought by Cogent Private Wealth Inc.

Cogent Private Wealth Inc. acquired a new position in Chime Financial, Inc. (NASDAQ:CHYM) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 40,000 shares of the company’s stock, valued at approximately $1,007,000.

A number of other institutional investors have also added to or reduced their stakes in CHYM. JPMorgan Chase & Co. bought a new position in Chime Financial in the second quarter worth $693,000. Legal & General Group Plc bought a new position in Chime Financial in the second quarter worth $136,000. Russell Investments Group Ltd. bought a new position in Chime Financial in the second quarter worth $958,000. EverSource Wealth Advisors LLC bought a new position in Chime Financial in the second quarter worth $33,000. Finally, Marshall Wace LLP bought a new position in Chime Financial in the second quarter worth $9,087,000.

Wall Street Analyst Weigh In

CHYM has been the subject of a number of research reports. UBS Group increased their price objective on Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a report on Monday, May 11th. Keefe, Bruyette & Woods upgraded Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 26th. Wells Fargo & Company increased their price objective on Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Compass Point upgraded Chime Financial from a “neutral” rating to a “buy” rating and reduced their price target for the company from $33.00 to $27.00 in a report on Monday, April 13th. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.65.

Chime Financial Price Performance

Shares of NASDAQ:CHYM opened at $19.22 on Tuesday. Chime Financial, Inc. has a 1-year low of $16.17 and a 1-year high of $44.94. The business has a fifty day moving average price of $19.71 and a 200-day moving average price of $22.00. The company has a market capitalization of $7.32 billion and a PE ratio of -2.59.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The firm had revenue of $647.39 million during the quarter. The business’s revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Chime Financial, Inc. will post 0.3 earnings per share for the current fiscal year.

Chime Financial 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.