FinWise Bancorp (NASDAQ:FINW) Stock Rating Lowered by Wall Street Zen

FinWise Bancorp (NASDAQ:FINW) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Saturday.

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

FinWise Bancorp Stock Performance

FINW opened at $13.88 on Friday. The firm has a market cap of $192.65 million, a P/E ratio of 14.46 and a beta of 0.70. The business has a 50 day moving average price of $14.15 and a 200 day moving average price of $15.27. FinWise Bancorp has a twelve month low of $12.82 and a twelve month high of $22.49.

FinWise Bancorp (NASDAQ:FINW) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.09). FinWise Bancorp had a net margin of 6.76% and a return on equity of 7.04%. The company had revenue of $54.34 million for the quarter, compared to analyst estimates of $47.11 million. As a group, analysts anticipate that FinWise Bancorp will post 0.77 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On FinWise Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Globeflex Capital L P acquired a new position in FinWise Bancorp during the 2nd quarter valued at $48,000. EP Wealth Advisors LLC acquired a new stake in FinWise Bancorp in the 2nd quarter worth $345,000. BlackRock Inc. bought a new position in shares of FinWise Bancorp during the 2nd quarter worth about $7,549,000. Deutsche Bank AG bought a new position in shares of FinWise Bancorp during the 2nd quarter worth about $139,000. Finally, Global Retirement Partners LLC acquired a new position in shares of FinWise Bancorp during the second quarter valued at about $178,000. Institutional investors own 35.41% of the company’s stock.

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.