Hsbc Holdings PLC Acquires Shares of 49,866 Chime Financial, Inc. $CHYM

Hsbc Holdings PLC bought a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM) in the 4th quarter, Holdings Channel reports. The institutional investor bought 49,866 shares of the company’s stock, valued at approximately $1,274,000.

A number of other large investors have also recently modified their holdings of the business. Tiger Global Management LLC increased its stake in shares of Chime Financial by 13.8% in the 4th quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock valued at $357,225,000 after purchasing an additional 1,721,731 shares during the last quarter. Aspect Management LLC bought a new stake in shares of Chime Financial during the 4th quarter worth $300,361,000. Ashton Thomas Private Wealth LLC acquired a new stake in Chime Financial in the fourth quarter valued at about $129,091,000. Orland Properties Ltd acquired a new stake in Chime Financial in the second quarter valued at about $159,093,000. Finally, Scge Management L.P. bought a new position in Chime Financial in the second quarter valued at about $152,563,000.

Wall Street Analyst Weigh In

CHYM has been the subject of several research analyst reports. Compass Point raised Chime Financial from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $33.00 to $27.00 in a research note on Monday, April 13th. BMO Capital Markets assumed coverage on shares of Chime Financial in a research note on Wednesday, April 22nd. They issued an “outperform” rating and a $30.00 price target on the stock. Texas Capital raised shares of Chime Financial to a “strong-buy” rating in a report on Tuesday, April 14th. Wells Fargo & Company upped their price objective on shares of Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a research note on Monday, May 11th. Five investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.65.

Insider Activity

In other news, General Counsel Adam B. Frankel sold 3,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were 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 owned 303,795 shares of the company’s stock, valued at approximately $5,316,412.50. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.30% of the company’s stock.

Chime Financial Price Performance

Chime Financial stock opened at $20.92 on Monday. The business has a 50 day moving average of $18.61 and a 200-day moving average of $21.27. Chime Financial, Inc. has a 1 year low of $15.88 and a 1 year high of $38.67. The company has a market capitalization of $7.97 billion and a P/E ratio of -2.82.

Chime Financial (NASDAQ:CHYM) last posted its earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.03 by $0.10. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The business had revenue of $647.39 million for the quarter. The company’s revenue was up 24.8% on a year-over-year basis. Equities analysts anticipate that Chime Financial, Inc. will post 0.3 EPS for the current year.

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.