NorthCrest Asset Manangement LLC Makes New $555,000 Investment in Chime Financial, Inc. $CHYM

NorthCrest Asset Manangement LLC bought a new stake in shares of Chime Financial, Inc. (NASDAQ:CHYM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,156 shares of the company’s stock, valued at approximately $555,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CHYM. Murphy & Mullick Capital Management Corp purchased a new position in shares of Chime Financial during the first quarter valued at $44,000. GAMMA Investing LLC grew its holdings in Chime Financial by 1,316.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,167 shares of the company’s stock worth $58,000 after acquiring an additional 2,014 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Chime Financial by 835.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,394 shares of the company’s stock worth $176,000 after acquiring an additional 8,390 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in Chime Financial during the 1st quarter worth about $189,000. Finally, Kestra Private Wealth Services LLC purchased a new position in Chime Financial during the 1st quarter valued at about $294,000.

Chime Financial Stock Performance

CHYM traded down $0.29 on Friday, hitting $29.67. The company had a trading volume of 3,739,443 shares, compared to its average volume of 5,874,586. The stock has a fifty day moving average price of $30.83 and a 200-day moving average price of $23.94. Chime Financial, Inc. has a 12-month low of $15.88 and a 12-month high of $35.55. The stock has a market capitalization of $11.23 billion, a price-to-earnings ratio of -423.80 and a beta of 0.83.

Chime Financial (NASDAQ:CHYM) last announced its earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $669.77 million during the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($7.29) earnings per share. Analysts forecast that Chime Financial, Inc. will post 0.45 EPS for the current fiscal year.

Insider Transactions at Chime Financial

In other news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the transaction, the insider directly owned 405,663 shares of the company’s stock, valued at approximately $13,248,953.58. This represents a 91.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 18,877,790 shares of company stock valued at $619,276,441 over the last 90 days. 12.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Chime Financial from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Wells Fargo & Company increased their price objective on shares of Chime Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, August 25th. Freedom Capital raised shares of Chime Financial to a “strong-buy” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group upped their target price on Chime Financial from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Chime Financial presently has a consensus rating of “Moderate Buy” and an average price target of $36.38.

Chime Financial Profile

Chime Financial, Inc is a financial technology company that provides digital banking services to consumers in the United States. Through its mobile app and website, Chime offers spending accounts, savings products, debit cards and tools designed to help members manage everyday finances without relying on traditional bank branches.

The company’s product offerings have included fee-conscious checking and savings accounts, early direct-deposit access, automatic savings features, overdraft-related services such as SpotMe, and Chime Credit Builder, a secured credit card intended to help eligible members establish or improve their credit history.