Chime Financial Inc. (NASDAQ:CHYM) shares are trading higher after the company announced it expects a year-over-year increase in its third-quarter and fiscal-year 2026 revenue guidance. The company will acquire Stride Bank.
- Chime stock is challenging resistance. Why are CHYM shares at highs?
Chime Sees Continued Growth Ahead
For the third quarter, Chime expects revenue of $705 million, representing year-over-year growth of approximately 30%, and adjusted EBITDA of $117 million to $120 million. For the full year, the company expects revenue of $2.76 billion to $2.77 billion, representing year-over-year growth of approximately 26% to 27%, and adjusted EBITDA of $481 million to $489 million.
Chime to Acquire Stride Bank in $590M Cash Deal
Chime entered into a definitive agreement to acquire Stride Bank, N.A. for $590 million in cash. Stride, a nationally chartered bank that has served as Chime’s bank partner for more than seven years, will become Chime Bank, N.A. and operate as a wholly owned subsidiary upon closing. The transaction is expected to be immediately accretive to earnings per share upon closing, with more than $100 million in expected net synergies driven by sponsor bank fee savings, expansion of lending products, and a lower cost of funds. The deal values Stride at approximately 1.5 times tangible book value and is expected to close in the first half of 2027, subject to regulatory approval.
“We founded Chime because mainstream America deserved better banking,” said Chris Britt, CEO and Co-founder of Chime. “By combining Chime’s leading brand and deep member relationships with Stride’s national charter and team, we will accelerate toward our vision to be the largest provider of primary bank accounts in America.”
Chime Shares Rocket Higher
CHYM Price Action: At the time of publication, Chime shares are trading 9.84% higher at $35.49, according to data from Benzinga Pro.
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