FinWise Bancorp (NASDAQ:FINW) Receives $18.00 Average PT from Analysts

Shares of FinWise Bancorp (NASDAQ:FINW) have earned a consensus rating of “Hold” from the five brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $18.00.

Several research analysts recently issued reports on the stock. Stephens downgraded shares of FinWise Bancorp from an “overweight” rating to an “equal weight” rating and set a $16.00 price target on the stock. in a research report on Thursday, August 6th. Zacks Research cut shares of FinWise Bancorp from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FinWise Bancorp in a research note on Monday, August 3rd. Raymond James Financial reiterated an “outperform” rating and set a $16.00 target price on shares of FinWise Bancorp in a research report on Friday, July 31st. Finally, Wall Street Zen cut shares of FinWise Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th.

FinWise Bancorp Price Performance

FinWise Bancorp stock opened at $13.98 on Monday. The company has a market capitalization of $194.04 million, a PE ratio of 14.56 and a beta of 0.70. FinWise Bancorp has a one year low of $12.82 and a one year high of $22.49. The business has a 50 day simple moving average of $14.00 and a 200 day simple moving average of $14.87.

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 during the quarter, compared to analyst estimates of $47.11 million. Equities analysts anticipate that FinWise Bancorp will post 0.77 earnings per share for the current fiscal year.

FinWise Bancorp declared that its board has authorized a stock repurchase program on Thursday, May 21st that authorizes the company to repurchase 685,000,000,000 shares. This repurchase authorization authorizes the company to buy up to 5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. raised its position in shares of FinWise Bancorp by 0.6% during the third quarter. Alliancebernstein L.P. now owns 771,701 shares of the company’s stock worth $14,963,000 after acquiring an additional 4,360 shares during the last quarter. Wasatch Advisors LP boosted its holdings 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. bought a new position in FinWise Bancorp in the second quarter valued at about $7,549,000. Vanguard Group Inc. boosted its holdings in FinWise Bancorp by 0.4% in the third quarter. Vanguard Group Inc. now owns 487,323 shares of the company’s stock valued at $9,449,000 after acquiring an additional 1,739 shares during the last quarter. Finally, US Bancorp DE increased its position in FinWise Bancorp by 2.3% in the fourth quarter. US Bancorp DE now owns 439,048 shares of the company’s stock worth $7,877,000 after purchasing an additional 10,000 shares during the period. 35.41% of the stock is currently 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.