Chime Financial, Inc. $CHYM Shares Sold by Maltese Capital Management LLC

Maltese Capital Management LLC cut its stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) by 12.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 368,263 shares of the company’s stock after selling 54,549 shares during the quarter. Chime Financial accounts for about 1.6% of Maltese Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding. Maltese Capital Management LLC’s holdings in Chime Financial were worth $9,269,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CHYM. Lunate Capital Ltd purchased a new stake in Chime Financial in the third quarter valued at approximately $36,503,000. Davis Selected Advisers acquired a new stake in Chime Financial during the 3rd quarter valued at approximately $48,391,000. Farther Finance Advisors LLC boosted its holdings in shares of Chime Financial by 2,794.6% in the 4th quarter. Farther Finance Advisors LLC now owns 72,366 shares of the company’s stock valued at $1,821,000 after acquiring an additional 69,866 shares during the last quarter. Transcend Capital Advisors LLC purchased a new position in shares of Chime Financial during the fourth quarter worth $1,286,000. Finally, Baxter Bros Inc. acquired a new position in Chime Financial during the fourth quarter valued at $2,799,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods upgraded shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chime Financial in a report on Wednesday, June 3rd. Texas Capital raised shares of Chime Financial to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $40.00 price target on shares of Chime Financial in a research note on Monday, May 11th. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.65.

Chime Financial Price Performance

CHYM opened at $17.64 on Tuesday. The company’s 50 day simple moving average is $19.52 and its two-hundred day simple moving average is $21.89. The firm has a market capitalization of $6.72 billion and a price-to-earnings ratio of -2.37. Chime Financial, Inc. has a 1-year low of $15.88 and a 1-year high of $38.67.

Chime Financial (NASDAQ:CHYM) last posted its quarterly 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. The business had revenue of $647.39 million for the quarter. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The company’s revenue was up 24.8% on a year-over-year basis. On average, equities analysts anticipate that Chime Financial, Inc. will post 0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Chime Financial

In related news, General Counsel Adam B. Frankel sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $18.00, for a total transaction of $54,000.00. Following the sale, the general counsel directly owned 306,795 shares of the company’s stock, valued at $5,522,310. This represents a 0.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.30% of the company’s stock.

Chime Financial 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.