The Bancorp slides as partner Chime set to buy Stride Bank

Chime Financial

09/09/2026 14:10

** U.S. bank The Bancorp's TBBK.O shares slide 14.6% to $55 premarket
** TBBK banking partner Chime CHYM.O late Tuesday unveiled move to buy Stride Bank, gaining ‌a bank charter that would allow it to expand its lending business 
** CHYM and TBBK have a multi-year partnership on banking sponsorship services 
** Piper Sandler analyst Manuel Navas says CHYM's strategy would ultimately necessitate a move away from TBBK
** "We expect weakness in shares today and look for management to clarify the impact of this transaction," Navas says
** Says Block's XYZ.N move to file for bank charter adds another headwind for TBBK 
** All three brokerages covering the stock rate "buy" or higher; median PT $86 - data compiled by LSEG
** As of last close, TBBK shares down 4.6% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))