Cogent Private Wealth Inc. Takes Position in Chime Financial, Inc. $CHYM

Cogent Private Wealth Inc. purchased a new stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 40,000 shares of the company’s stock, valued at approximately $1,007,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new stake in shares of Chime Financial during the second quarter valued at about $33,000. Scopus Asset Management L.P. bought a new position in shares of Chime Financial in the second quarter worth approximately $34,000. PNC Financial Services Group Inc. bought a new position in shares of Chime Financial in the fourth quarter worth approximately $25,000. Daiwa Securities Group Inc. bought a new position in shares of Chime Financial in the second quarter worth approximately $40,000. Finally, Osaic Holdings Inc. bought a new position in shares of Chime Financial in the second quarter worth approximately $45,000.

Analyst Ratings Changes

CHYM has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Wells Fargo & Company upped their target price on Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. UBS Group upped their target price on Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Texas Capital raised Chime Financial to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods raised Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.65.

Chime Financial Stock Up 3.3%

Shares of CHYM stock opened at $19.22 on Tuesday. The stock has a fifty day moving average of $19.71 and a 200 day moving average of $22.00. Chime Financial, Inc. has a 52 week low of $16.17 and a 52 week high of $44.94. The firm has a market capitalization of $7.32 billion and a price-to-earnings ratio of -2.59.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $647.39 million during the quarter. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities research analysts anticipate that Chime Financial, Inc. will post 0.3 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.