Chime Financial, Inc.'s (NASDAQ:CHYM) Quiet Period Set To End on July 22nd

Chime Financial's (NASDAQ:CHYM - Get Free Report) quiet period will end on Tuesday, July 22nd. Chime Financial had issued 32,000,000 shares in its public offering on June 12th. The total size of the offering was $864,000,000 based on an initial share price of $27.00. During the company's quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company's quiet period, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

CHYM has been the subject of several research reports. JPMorgan Chase & Co. initiated coverage on shares of Chime Financial in a research note on Monday, July 7th. They issued an "overweight" rating and a $40.00 price target for the company. Barclays initiated coverage on shares of Chime Financial in a research note on Monday, July 7th. They issued an "overweight" rating and a $40.00 price target for the company. The Goldman Sachs Group started coverage on shares of Chime Financial in a research note on Monday, July 7th. They issued a "neutral" rating and a $34.00 price target for the company. Evercore ISI started coverage on shares of Chime Financial in a research note on Monday, July 7th. They set an "outperform" rating and a $38.00 target price for the company. Finally, William Blair began coverage on shares of Chime Financial in a research note on Monday, July 7th. They set an "outperform" rating for the company. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.83.

Chime Financial Price Performance

NASDAQ CHYM traded down $0.69 during trading hours on Friday, hitting $30.82. 884,885 shares of the stock were exchanged, compared to its average volume of 3,731,197. Chime Financial has a 12-month low of $28.21 and a 12-month high of $44.94.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Chime Financial stock. PFG Investments LLC purchased a new position in shares of Chime Financial, Inc. (NASDAQ:CHYM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,150 shares of the company's stock, valued at approximately $350,000.

Chime Financial Company Profile

Chime is a financial technology company that partners with federally regulated, FDIC-insured banks—The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC—to provide consumer banking products and services. The company's model is designed to eliminate common fees and simplify access to basic financial services. Chime does not charge overdraft fees, monthly service fees, or require minimum balances.