FinWise Bancorp (NASDAQ:FINW) Issues Quarterly Earnings Results, Misses Estimates By $0.08 EPS

FinWise Bancorp (NASDAQ:FINW) released its earnings results on Thursday. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.08), FiscalAI reports. FinWise Bancorp had a net margin of 12.13% and a return on equity of 8.31%. The business had revenue of $26.36 million for the quarter, compared to the consensus estimate of $42.32 million.

FinWise Bancorp Stock Performance

Shares of NASDAQ FINW traded up $0.21 during mid-day trading on Thursday, reaching $18.45. The company had a trading volume of 30,510 shares, compared to its average volume of 26,343. FinWise Bancorp has a twelve month low of $13.48 and a twelve month high of $22.49. The stock’s 50 day moving average is $17.94 and its 200-day moving average is $18.35. The stock has a market capitalization of $250.68 million, a PE ratio of 17.41 and a beta of 0.82.

Analyst Ratings Changes

Several analysts recently issued reports on FINW shares. Hovde Group raised their price target on FinWise Bancorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of FinWise Bancorp in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Insider Transactions at FinWise Bancorp

In related news, Director Howard I. Reynolds purchased 2,297 shares of FinWise Bancorp stock in a transaction on Friday, October 31st. The stock was purchased at an average cost of $18.95 per share, with a total value of $43,528.15. Following the acquisition, the director directly owned 38,105 shares in the company, valued at approximately $722,089.75. This trade represents a 6.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert Keil sold 1,500 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $19.48, for a total transaction of $29,220.00. Following the transaction, the insider directly owned 56,428 shares of the company’s stock, valued at $1,099,217.44. This represents a 2.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 21.30% of the stock is owned by insiders.

Institutional Trading of FinWise Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of FINW. BNP Paribas Financial Markets boosted its stake in FinWise Bancorp by 76.9% during the third quarter. BNP Paribas Financial Markets now owns 2,890 shares of the company’s stock worth $56,000 after buying an additional 1,256 shares in the last quarter. Empowered Funds LLC boosted 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 in the last quarter. Vanguard Group Inc. lifted its holdings in FinWise Bancorp by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 487,323 shares of the company’s stock valued at $9,449,000 after purchasing an additional 1,739 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in FinWise Bancorp by 2.7% during the second quarter. Bridgeway Capital Management LLC now owns 92,706 shares of the company’s stock worth $1,392,000 after buying an additional 2,454 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of FinWise Bancorp by 3,887.7% during the second quarter. Bank of America Corp DE now owns 2,911 shares of the company’s stock worth $44,000 after buying an additional 2,838 shares in the last quarter. 35.41% of the stock is currently 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.