FinWise Bancorp (NASDAQ:FINW) Shares Down 4.9% – Time to Sell?

Shares of FinWise Bancorp (NASDAQ:FINW) were down 4.9% on Monday . The stock traded as low as $14.36 and last traded at $14.67. 55,839 shares were traded during mid-day trading, an increase of 101% from the average daily volume of 27,830 shares. The stock had previously closed at $15.42.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FINW shares. Zacks Research lowered shares of FinWise Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. Wall Street Zen lowered FinWise Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, May 18th. Finally, Weiss Ratings lowered shares of FinWise Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, FinWise Bancorp has a consensus rating of “Hold” and a consensus target price of $22.00.

FinWise Bancorp Stock Down 4.9%

The stock has a 50 day moving average price of $14.51 and a two-hundred day moving average price of $16.20. The firm has a market cap of $201.13 million, a PE ratio of 13.34 and a beta of 0.70.

FinWise Bancorp (NASDAQ:FINW) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.13). FinWise Bancorp had a return on equity of 8.24% and a net margin of 9.05%.The company had revenue of $24.33 million during the quarter, compared to analysts’ expectations of $50.48 million. As a group, equities analysts anticipate that FinWise Bancorp will post 1.18 earnings per share for the current year.

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

Hedge Funds Weigh In On FinWise Bancorp

A number of institutional investors have recently bought and sold shares of FINW. Bridgeway Capital Management LLC increased its stake in shares of FinWise Bancorp by 0.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 88,889 shares of the company’s stock worth $1,595,000 after acquiring an additional 700 shares during the period. Deutsche Bank AG boosted its holdings in FinWise Bancorp by 12.7% in the fourth quarter. Deutsche Bank AG now owns 9,611 shares of the company’s stock valued at $172,000 after purchasing an additional 1,086 shares during the last quarter. BNP Paribas Financial Markets grew its position in FinWise Bancorp by 76.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,890 shares of the company’s stock worth $56,000 after purchasing an additional 1,256 shares during the period. Empowered Funds LLC lifted its holdings in shares of FinWise Bancorp by 7.1% in the 1st quarter. Empowered Funds LLC now owns 24,052 shares of the company’s stock valued at $421,000 after buying an additional 1,591 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of FinWise Bancorp by 0.4% in the third quarter. Vanguard Group Inc. now owns 487,323 shares of the company’s stock worth $9,449,000 after buying an additional 1,739 shares during the last quarter. 35.41% of the stock is owned by hedge funds and other 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.