FinWise Bancorp (NASDAQ:FINW) Rating Lowered to Strong Sell at Wall Street Zen

FinWise Bancorp (NASDAQ:FINW) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other analysts have also recently weighed in on FINW. Zacks Research cut shares of FinWise Bancorp from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of FinWise Bancorp in a report on Monday, August 3rd. Raymond James Financial reiterated an “outperform” rating and issued a $16.00 price objective on shares of FinWise Bancorp in a report on Friday, July 31st. Finally, Stephens lowered FinWise Bancorp from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, FinWise Bancorp has an average rating of “Hold” and an average price target of $18.00.

FinWise Bancorp Stock Performance

Shares of FinWise Bancorp stock opened at $11.32 on Friday. The business’s 50 day moving average price is $13.54 and its 200 day moving average price is $14.43. The company has a market cap of $157.12 million, a price-to-earnings ratio of 11.79 and a beta of 0.70. FinWise Bancorp has a one year low of $10.79 and a one year high of $20.86.

FinWise Bancorp (NASDAQ:FINW) last issued its earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.09). The company had revenue of $54.34 million during the quarter, compared to analysts’ expectations of $47.11 million. FinWise Bancorp had a net margin of 6.76% and a return on equity of 7.04%. On average, analysts predict that FinWise Bancorp will post 0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in FinWise Bancorp during the 2nd quarter worth approximately $7,549,000. Dimensional Fund Advisors LP boosted 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 period. Militia Capital Management LLC purchased a new position in FinWise Bancorp in the 1st quarter valued at approximately $498,000. Renaissance Technologies LLC grew its stake in shares of FinWise Bancorp by 16.8% in the first quarter. Renaissance Technologies LLC now owns 28,026 shares of the company’s stock worth $444,000 after acquiring an additional 4,026 shares in the last quarter. Finally, Arcus Capital Partners LLC grew its stake in shares of FinWise Bancorp by 92.3% in the second quarter. Arcus Capital Partners LLC now owns 25,140 shares of the company’s stock worth $365,000 after acquiring an additional 12,066 shares in the last quarter. Institutional investors and hedge funds own 35.41% of the company’s stock.

FinWise Bancorp Company Profile

FinWise Bancorp is the bank holding company for FinWise Bank, a Utah-chartered financial institution headquartered in Murray, Utah. The company provides traditional banking services while focusing on technology-enabled lending and partnerships with financial technology companies.

Through FinWise Bank, the company offers deposit products, including checking and savings accounts and certificates of deposit, as well as commercial, small-business and consumer lending. Its partnership platform works with fintech companies and other third parties to support loan origination, servicing, compliance and related banking functions.

FinWise serves customers through its digital banking and nationwide partnership model, while maintaining a presence in Utah.