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

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

Several other research firms 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 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 research report on Friday, July 31st. Stephens cut FinWise Bancorp from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of FinWise Bancorp in a research report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, FinWise Bancorp currently has a consensus rating of “Hold” and a consensus target price of $18.00.

FinWise Bancorp Stock Performance

Shares of NASDAQ FINW opened at $13.88 on Friday. FinWise Bancorp has a 1-year low of $12.82 and a 1-year high of $22.49. The company has a market cap of $192.65 million, a PE ratio of 14.46 and a beta of 0.70. The company has a 50-day moving average of $14.15 and a two-hundred day moving average of $15.29.

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

FinWise Bancorp declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 21st that allows the company to repurchase 685,000,000,000 outstanding shares. This repurchase authorization allows the company to buy up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On FinWise Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. lifted its holdings in FinWise Bancorp by 0.6% in the third quarter. Alliancebernstein L.P. now owns 771,701 shares of the company’s stock valued at $14,963,000 after buying an additional 4,360 shares during the period. Wasatch Advisors LP boosted its stake in FinWise Bancorp by 7.2% in the third quarter. Wasatch Advisors LP now owns 754,543 shares of the company’s stock valued at $14,631,000 after acquiring an additional 50,434 shares during the last quarter. BlackRock Inc. acquired a new stake in FinWise Bancorp during the 2nd quarter worth $7,549,000. Vanguard Group Inc. grew its holdings in FinWise Bancorp by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 487,323 shares of the company’s stock worth $9,449,000 after acquiring an additional 1,739 shares during the period. Finally, US Bancorp DE raised its position in shares of FinWise Bancorp by 2.3% during the 4th quarter. US Bancorp DE now owns 439,048 shares of the company’s stock valued at $7,877,000 after acquiring an additional 10,000 shares during the last quarter. 35.41% of the stock is owned by institutional investors.

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.