FinWise Bancorp (NASDAQ:FINW) Lowered to “Equal Weight” Rating by Stephens

FinWise Bancorp (NASDAQ:FINW) was downgraded by research analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. They presently have a $16.00 price objective on the stock. Stephens’ target price would indicate a potential upside of 13.48% from the company’s current price.

A number of other analysts have also commented on FINW. Wall Street Zen lowered FinWise Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of FinWise Bancorp in a report on Monday. Raymond James Financial reissued an “outperform” rating and issued a $16.00 price objective on shares of FinWise Bancorp in a research note on Friday, July 31st. Finally, Zacks Research downgraded FinWise Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $18.00.

FinWise Bancorp Price Performance

NASDAQ:FINW opened at $14.10 on Thursday. The firm has a market capitalization of $193.31 million, a P/E ratio of 14.69 and a beta of 0.70. FinWise Bancorp has a twelve month low of $12.82 and a twelve month high of $22.49. The company has a fifty day moving average of $14.20 and a 200-day moving average of $15.47.

FinWise Bancorp (NASDAQ:FINW) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.09). FinWise Bancorp had a net margin of 6.76% and a return on equity of 7.10%. The company had revenue of $24.38 million during the quarter, compared to the consensus estimate of $47.11 million. On average, analysts anticipate that FinWise Bancorp will post 0.77 EPS for the current fiscal year.

FinWise Bancorp declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 21st that allows the company to repurchase 685,000,000,000 outstanding shares. This repurchase authorization allows the company to buy up to 5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Trading of FinWise Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Militia Capital Management LLC bought a new position in shares of FinWise Bancorp in the first quarter valued at approximately $498,000. Renaissance Technologies LLC raised its position in FinWise Bancorp by 16.8% in the 1st quarter. Renaissance Technologies LLC now owns 28,026 shares of the company’s stock valued at $444,000 after buying an additional 4,026 shares during the last quarter. Globeflex Capital L P raised its position in FinWise Bancorp by 292.1% in the 1st quarter. Globeflex Capital L P now owns 13,337 shares of the company’s stock valued at $212,000 after buying an additional 9,936 shares during the last quarter. Dimensional Fund Advisors LP raised its position in FinWise Bancorp by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 113,484 shares of the company’s stock valued at $1,800,000 after buying an additional 2,841 shares during the last quarter. Finally, Arcus Capital Partners LLC lifted its stake in FinWise Bancorp by 28.5% during the 1st quarter. Arcus Capital Partners LLC now owns 13,074 shares of the company’s stock valued at $207,000 after acquiring an additional 2,900 shares in the last quarter. 35.41% of the stock is owned by institutional investors.

FinWise Bancorp Company Profile

FinWise Bancorp is the bank holding company for FinWise Bank, a digital‐first community bank headquartered in Lindon, Utah. The company specializes in providing commercial lending and deposit products to marketplace lending platforms, fintech companies and small to mid‐sized businesses across the United States. FinWise Bancorp operates through its wholly owned subsidiary, FinWise Bank, which is FDIC‐insured and leverages a technology‐driven model to deliver banking services efficiently.

The company’s primary business activities include participant financing arrangements for marketplace lenders and other fintech platforms, as well as direct commercial loans.