Wall Street Zen Upgrades FinWise Bancorp (NASDAQ:FINW) to Sell

FinWise Bancorp (NASDAQ:FINW) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $16.00 price target on shares of FinWise Bancorp in a research report on Friday, July 31st. Stephens lowered 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 report on Thursday, August 6th. Zacks Research cut shares of FinWise Bancorp from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of FinWise Bancorp in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, FinWise Bancorp has an average rating of “Hold” and an average price target of $18.00.

FinWise Bancorp Price Performance

FINW opened at $13.33 on Friday. The stock has a market capitalization of $185.02 million, a price-to-earnings ratio of 13.89 and a beta of 0.70. The business has a 50-day moving average of $13.90 and a two-hundred day moving average of $14.75. FinWise Bancorp has a 12 month low of $12.82 and a 12 month high of $22.49.

FinWise Bancorp (NASDAQ:FINW) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $47.11 million. Equities research analysts anticipate that FinWise Bancorp will post 0.77 earnings per share for the current year.

FinWise Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, May 21st that permits the company to buyback 685,000,000,000 shares. This buyback authorization permits the company to buy up to 5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FINW. BNP Paribas Financial Markets purchased a new stake in FinWise Bancorp during the second quarter worth approximately $25,000. California State Teachers Retirement System increased its position in shares of FinWise Bancorp by 277.0% in the second quarter. California State Teachers Retirement System now owns 1,900 shares of the company’s stock worth $28,000 after acquiring an additional 1,396 shares in the last quarter. Bank of America Corp DE raised its stake in shares of FinWise Bancorp by 3,887.7% in the 2nd quarter. Bank of America Corp DE now owns 2,911 shares of the company’s stock valued at $44,000 after acquiring an additional 2,838 shares during the period. Globeflex Capital L P purchased a new position in shares of FinWise Bancorp in the 2nd quarter valued at $48,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of FinWise Bancorp during the 2nd quarter valued at $65,000. Hedge funds and other 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.