Norges Bank Invests $24.16 Million in Chime Financial, Inc. $CHYM

Norges Bank purchased a new stake in Chime Financial, Inc. (NASDAQ:CHYM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 700,000 shares of the company’s stock, valued at approximately $24,157,000. Norges Bank owned 0.19% of Chime Financial as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Level Four Advisory Services LLC acquired a new stake in Chime Financial during the 2nd quarter worth about $235,000. Aristides Capital LLC purchased a new position in shares of Chime Financial in the second quarter worth approximately $345,000. Russell Investments Group Ltd. acquired a new stake in shares of Chime Financial during the second quarter valued at approximately $958,000. XTX Topco Ltd acquired a new stake in shares of Chime Financial during the second quarter valued at approximately $457,000. Finally, CenterBook Partners LP purchased a new stake in shares of Chime Financial in the 2nd quarter valued at approximately $4,164,000.

Analysts Set New Price Targets

CHYM has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Chime Financial from $40.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a research report on Thursday, October 30th. Jefferies Financial Group assumed coverage on Chime Financial in a report on Monday, November 3rd. They set a “hold” rating and a $17.00 price target on the stock. Keefe, Bruyette & Woods dropped their price target on Chime Financial from $42.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Finally, The Goldman Sachs Group upgraded Chime Financial from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $26.00 to $27.00 in a research report on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.07.

Chime Financial Stock Performance

Chime Financial stock opened at $23.92 on Tuesday. The firm’s fifty day moving average is $19.70. Chime Financial, Inc. has a 12 month low of $16.17 and a 12 month high of $44.94.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.10. The firm had revenue of $543.52 million for the quarter. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period last year, the company posted ($0.34) EPS.

About Chime Financial

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.