FinWise Bancorp (NASDAQ:FINW) Receives Average Rating of “Hold” from Brokerages

FinWise Bancorp (NASDAQ:FINW) has been assigned a consensus rating of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $18.00.

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded FinWise Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Zacks Research lowered shares of FinWise Bancorp from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Stephens downgraded FinWise Bancorp from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a research note on Thursday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of FinWise Bancorp in a report on Monday, August 3rd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $16.00 price target on shares of FinWise Bancorp in a research report on Friday, July 31st.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FINW. Bank of America Corp DE raised its stake in shares of FinWise Bancorp by 4,847.1% in the 4th quarter. Bank of America Corp DE now owns 3,463 shares of the company’s stock valued at $55,000 after buying an additional 3,393 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in FinWise Bancorp during the first quarter worth about $104,000. Goldman Sachs Group Inc. boosted its holdings in FinWise Bancorp by 186.3% during the first quarter. Goldman Sachs Group Inc. now owns 40,136 shares of the company’s stock valued at $703,000 after purchasing an additional 26,115 shares in the last quarter. Empowered Funds LLC grew its stake in shares of FinWise Bancorp by 7.1% in the 1st quarter. Empowered Funds LLC now owns 24,052 shares of the company’s stock valued at $421,000 after purchasing an additional 1,591 shares during the period. Finally, Jane Street Group LLC grew its position in FinWise Bancorp by 169.2% in the first quarter. Jane Street Group LLC now owns 33,196 shares of the company’s stock valued at $581,000 after acquiring an additional 20,866 shares during the period. 35.41% of the stock is currently owned by institutional investors and hedge funds.

FinWise Bancorp Trading Up 1.3%

NASDAQ FINW opened at $13.94 on Thursday. The stock’s 50-day moving average price is $14.18 and its two-hundred day moving average price is $15.33. The company has a market cap of $191.12 million, a PE ratio of 14.52 and a beta of 0.70. FinWise Bancorp has a 1 year low of $12.82 and a 1 year high of $22.49.

FinWise Bancorp (NASDAQ:FINW) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). FinWise Bancorp had a net margin of 6.76% and a return on equity of 7.10%. The firm had revenue of $54.34 million for the quarter, compared to analyst estimates of $47.11 million. Research analysts forecast that FinWise Bancorp will post 0.77 EPS for the current fiscal year.

FinWise Bancorp announced that its board has authorized a stock buyback plan on Thursday, May 21st that authorizes the company to repurchase 685,000,000,000 shares. This repurchase authorization authorizes the company to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.