BMO Capital Markets Cuts Chime Financial (NASDAQ:CHYM) Price Target to $28.00

Chime Financial (NASDAQ:CHYM) had its target price lowered by BMO Capital Markets from $30.00 to $28.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Chime Financial from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Wells Fargo & Company boosted their target price on Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 price target on shares of Chime Financial in a research report on Monday, May 11th. Finally, Barclays initiated coverage on Chime Financial in a report on Wednesday, July 8th. They issued an “overweight” rating and a $26.00 price target for the company. Four research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Chime Financial has a consensus rating of “Moderate Buy” and an average target price of $29.19.

Chime Financial Stock Down 0.3%

Shares of CHYM opened at $20.69 on Wednesday. Chime Financial has a 52-week low of $15.88 and a 52-week high of $36.15. The firm’s fifty day moving average is $19.12 and its two-hundred day moving average is $20.98. The stock has a market cap of $7.88 billion and a PE ratio of -2.78.

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

Insider Activity at Chime Financial

In other news, General Counsel Adam B. Frankel sold 3,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $17.50, for a total transaction of $52,500.00. Following the completion of the transaction, the general counsel directly owned 303,795 shares in the company, valued at approximately $5,316,412.50. This represents a 0.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Chime Financial

Several institutional investors and hedge funds have recently bought and sold shares of CHYM. PNC Financial Services Group Inc. purchased a new position in Chime Financial during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Chime Financial in the 2nd quarter valued at approximately $33,000. Scopus Asset Management L.P. purchased a new stake in shares of Chime Financial in the 2nd quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Chime Financial by 686.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock worth $37,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Chime Financial in the 2nd quarter worth approximately $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.