Maltese Capital Management LLC Sells 54,549 Shares of Chime Financial, Inc. $CHYM

Maltese Capital Management LLC reduced its stake in Chime Financial, Inc. (NASDAQ:CHYM) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 368,263 shares of the company’s stock after selling 54,549 shares during the quarter. Chime Financial comprises approximately 1.6% of Maltese Capital Management LLC’s holdings, making the stock its 16th largest position. Maltese Capital Management LLC owned 0.10% of Chime Financial worth $9,269,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new position in Chime Financial during the fourth quarter valued at $129,091,000. Orland Properties Ltd bought a new stake in Chime Financial during the 2nd quarter valued at about $159,093,000. Scge Management L.P. bought a new position in shares of Chime Financial in the second quarter worth approximately $152,563,000. Capital Research Global Investors increased its position in shares of Chime Financial by 90.0% during the third quarter. Capital Research Global Investors now owns 6,878,057 shares of the company’s stock valued at $138,730,000 after acquiring an additional 3,258,179 shares in the last quarter. Finally, Davis Selected Advisers purchased a new position in shares of Chime Financial in the third quarter worth $48,391,000.

Chime Financial Stock Up 5.6%

Chime Financial stock opened at $17.64 on Tuesday. The company has a market cap of $6.72 billion and a PE ratio of -2.37. Chime Financial, Inc. has a twelve month low of $15.88 and a twelve month high of $38.67. The company’s 50-day moving average price is $19.52 and its 200-day moving average price is $21.89.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.10. The company 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%.Chime Financial’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, sell-side analysts expect that Chime Financial, Inc. will post 0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. BMO Capital Markets initiated coverage on shares of Chime Financial in a research note on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 target price for the company. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a research note on Sunday, April 12th. Canaccord Genuity Group reiterated a “buy” rating and set a $40.00 price objective on shares of Chime Financial in a research report on Monday, May 11th. Finally, Texas Capital raised Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.65.

Insider Transactions at Chime Financial

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $18.00, for a total value of $54,000.00. Following the completion of the transaction, the general counsel directly owned 306,795 shares in the company, valued at approximately $5,522,310. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.30% of the company’s stock.

Chime Financial Company 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.