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

Key Points

• HSBC Holdings disclosed a new 4th-quarter stake in Chime Financial, buying 49,866 shares worth about $1.27 million.
• Other institutions also added or boosted positions, while insider selling included General Counsel Adam B. Frankel selling 3,000 shares for $52,500.
• Chime reported better-than-expected earnings of $0.13 per share and 24.8% revenue growth year over year, and analysts currently rate the stock a Moderate Buy with a consensus target of $29.65.

Hsbc Holdings PLC acquired a new stake in Chime Financial, Inc. (NASDAQ:CHYM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,866 shares of the company's stock, valued at approximately $1,274,000.

Other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. acquired a new position in Chime Financial in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC acquired a new stake in Chime Financial during the second quarter worth approximately $33,000. Scopus Asset Management L.P. acquired a new stake in Chime Financial during the second quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Chime Financial by 686.0% during the fourth 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 period. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Chime Financial during the second quarter worth approximately $40,000.

Insider Buying and Selling 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 sale, the general counsel directly owned 303,795 shares of the company's stock, 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. Insiders own 12.30% of the company's stock.

Chime Financial Stock Performance

NASDAQ CHYM opened at $20.92 on Monday. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $38.67. The company has a 50 day moving average of $18.61 and a 200-day moving average of $21.27. The company has a market cap of $7.97 billion and a price-to-earnings ratio of -2.82.

Chime Financial (NASDAQ:CHYM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (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 business had revenue of $647.39 million for the quarter. Chime Financial's quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities research analysts forecast that Chime Financial, Inc. will post 0.3 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CHYM shares. Canaccord Genuity Group reiterated a "buy" rating and set a $40.00 target price on shares of Chime Financial in a research note on Monday, May 11th. 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 research note on Monday, April 13th. Texas Capital raised Chime Financial to a "strong-buy" rating in a report on Tuesday, April 14th. BMO Capital Markets assumed coverage on Chime Financial in a research report on Wednesday, April 22nd. They set an "outperform" rating and a $30.00 price objective on the stock. Finally, Wells Fargo & Company lifted 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. Five 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $29.65.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.