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

FinWise Bancorp (NASDAQ:FINW) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Several other analysts also recently issued reports on the company. Zacks Research upgraded FinWise Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Weiss Ratings cut FinWise Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.00.

FinWise Bancorp Price Performance

FINW stock traded down $0.18 during midday trading on Friday, reaching $13.88. 32,199 shares of the company’s stock traded hands, compared to its average volume of 41,339. FinWise Bancorp has a fifty-two week low of $12.82 and a fifty-two week high of $22.49. The business has a 50-day moving average price of $14.14 and a two-hundred day moving average price of $15.99. The company has a market capitalization of $190.29 million, a P/E ratio of 12.62 and a beta of 0.70.

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 the consensus estimate of $0.33 by ($0.13). FinWise Bancorp had a return on equity of 8.24% and a net margin of 9.05%.The business had revenue of $24.33 million during the quarter, compared to analyst estimates of $50.48 million. As a group, research analysts forecast that FinWise Bancorp will post 1.18 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On FinWise Bancorp

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in FinWise Bancorp by 109.3% during the 2nd quarter. Geode Capital Management LLC now owns 204,323 shares of the company’s stock worth $3,068,000 after buying an additional 106,683 shares during the period. Wasatch Advisors LP boosted its position in FinWise Bancorp by 7.2% in the 3rd quarter. Wasatch Advisors LP now owns 754,543 shares of the company’s stock valued at $14,631,000 after buying an additional 50,434 shares during the last quarter. Militia Capital Management LLC acquired a new stake in shares of FinWise Bancorp during the first quarter valued at about $498,000. Goldman Sachs Group Inc. increased its position in shares of FinWise Bancorp by 186.3% during the first quarter. Goldman Sachs Group Inc. now owns 40,136 shares of the company’s stock worth $703,000 after acquiring an additional 26,115 shares during the last quarter. Finally, Militia Capital Partners LP lifted its stake in shares of FinWise Bancorp by 49.2% in the second quarter. Militia Capital Partners LP now owns 74,601 shares of the company’s stock worth $1,120,000 after acquiring an additional 24,601 shares in the last quarter. 35.41% of the stock is owned by institutional investors and hedge funds.

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.