FinWise Bancorp (NASDAQ:FINW) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of FinWise Bancorp (NASDAQ:FINW) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other 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. Raymond James Financial restated an “outperform” rating and issued a $16.00 price objective on shares of FinWise Bancorp in a research report on Friday. Finally, Zacks Research raised shares of FinWise Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, FinWise Bancorp has an average rating of “Moderate Buy” and a consensus target price of $19.00.

FinWise Bancorp Stock Performance

NASDAQ:FINW opened at $13.76 on Friday. The firm has a market capitalization of $188.65 million, a price-to-earnings ratio of 14.33 and a beta of 0.70. FinWise Bancorp has a 52-week low of $12.82 and a 52-week high of $22.49. The stock has a fifty day moving average of $14.19 and a 200 day moving average of $15.56.

FinWise Bancorp (NASDAQ:FINW) last posted its 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). The business had revenue of $24.38 million for the quarter, compared to analysts’ expectations of $47.11 million. FinWise Bancorp had a return on equity of 7.10% and a net margin of 6.76%. Equities 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 buyback plan on Thursday, May 21st that permits the company to repurchase 685,000,000,000 outstanding shares. This repurchase authorization permits the company to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On FinWise Bancorp

Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of FinWise Bancorp by 4,847.1% in the 4th quarter. Bank of America Corp DE now owns 3,463 shares of the company’s stock worth $55,000 after purchasing an additional 3,393 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of FinWise Bancorp during the 1st quarter valued at about $104,000. Goldman Sachs Group Inc. lifted its position in FinWise Bancorp by 186.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 40,136 shares of the company’s stock worth $703,000 after buying an additional 26,115 shares during the last quarter. Empowered Funds LLC lifted its position in FinWise Bancorp by 7.1% in the 1st quarter. Empowered Funds LLC now owns 24,052 shares of the company’s stock worth $421,000 after buying an additional 1,591 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in FinWise Bancorp by 169.2% in the first quarter. Jane Street Group LLC now owns 33,196 shares of the company’s stock worth $581,000 after buying an additional 20,866 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.