Chime Financial stock rises after S&P MidCap 400 inclusion announcement

Chime Financial Inc (NASDAQ:CHYM) shares climbed 1.8% in Friday after-hours trading after S&P Dow Jones Indices announced the fintech firm will join the S&P MidCap 400. The inclusion, slated to take effect prior to the market open on Wednesday, November 18, positions the company within the benchmark's financials sector.

Chime will replace utilities constituent NorthWestern Energy Group, Inc (NASDAQ:NWE) following its acquisition by fellow S&P MidCap 400 member Black Hills Corporation (NYSE:BKH). The transaction is expected to close Friday, with the combined company remaining in the index under the new name Bright Horizon Energy Corp. (NYSE: HZN).

Operating as a financial technology platform rather than a traditional bank, Chime delivers online and mobile banking services to consumers. The company provides these offerings through partnerships with FDIC-insured institutions, specifically The Bancorp Bank, N.A. and Stride Bank, N.A.

The index addition follows third-quarter financial results reported earlier this month, when Chime posted earnings of $0.11 per share on $718 million in revenue, surpassing analyst expectations for a loss of $0.02 per share. Bolstered by that momentum, management projected fourth-quarter revenue between $757 million and $767 million and full-year 2026 revenue of $2.79 billion to $2.8 billion, both topping consensus estimates of $747.5 million and $2.77 billion, respectively.