FinWise Bancorp (NASDAQ:FINW) Stock Rating Upgraded by Zacks Research

FinWise Bancorp (NASDAQ:FINW) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities analysts also recently issued reports on FINW. Weiss Ratings downgraded FinWise Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Wall Street Zen lowered FinWise Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.00.

FinWise Bancorp Trading Up 2.1%

FINW opened at $14.80 on Tuesday. FinWise Bancorp has a 1-year low of $12.82 and a 1-year high of $22.49. The stock has a market capitalization of $202.91 million, a price-to-earnings ratio of 13.45 and a beta of 0.70. The business has a 50 day moving average of $14.42 and a 200-day moving average of $16.16.

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

FinWise Bancorp announced that its Board of Directors has approved a stock repurchase program on Thursday, May 21st that authorizes the company to buyback 685,000,000,000 outstanding shares. This buyback authorization authorizes the company to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On FinWise Bancorp

Several institutional investors have recently bought and sold shares of FINW. Bridgeway Capital Management LLC grew its holdings in shares of FinWise Bancorp by 0.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 88,889 shares of the company’s stock valued at $1,595,000 after acquiring an additional 700 shares in the last quarter. Deutsche Bank AG boosted its position in FinWise Bancorp by 12.7% during the fourth quarter. Deutsche Bank AG now owns 9,611 shares of the company’s stock valued at $172,000 after purchasing an additional 1,086 shares during the last quarter. BNP Paribas Financial Markets boosted its position in FinWise Bancorp by 76.9% during the third quarter. BNP Paribas Financial Markets now owns 2,890 shares of the company’s stock valued at $56,000 after purchasing an additional 1,256 shares during the last quarter. Empowered Funds LLC grew its stake in FinWise Bancorp by 7.1% in the first 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. Finally, Vanguard Group Inc. grew its stake in FinWise Bancorp by 0.4% in the third 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 in the last quarter. Institutional investors own 35.41% of the company’s stock.

About FinWise Bancorp

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.