FinWise Bancorp (NASDAQ:FINW) Shares Down 4.9% – What’s Next?

FinWise Bancorp (NASDAQ:FINW)’s stock price dropped 4.9% on Monday . The stock traded as low as $14.36 and last traded at $14.67. 55,839 shares changed hands during trading, an increase of 101% from the average session volume of 27,830 shares. The stock had previously closed at $15.42.

Analysts Set New Price Targets

FINW has been the subject of a number of recent analyst reports. Zacks Research cut shares of FinWise Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. Weiss Ratings lowered FinWise Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded FinWise Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.00.

FinWise Bancorp Trading Down 4.9%

The business has a fifty day simple moving average of $14.51 and a two-hundred day simple moving average of $16.20. The company has a market cap of $201.13 million, a PE ratio of 13.34 and a beta of 0.70.

FinWise Bancorp (NASDAQ:FINW) last issued its earnings results on Thursday, April 30th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.13). FinWise Bancorp had a net margin of 9.05% and a return on equity of 8.24%. The business had revenue of $24.33 million during the quarter, compared to analyst estimates of $50.48 million. Equities analysts expect that FinWise Bancorp will post 1.18 EPS for the current year.

FinWise Bancorp declared that its board has authorized a share buyback program on Thursday, May 21st that authorizes the company to buyback 685,000,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On FinWise Bancorp

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