FinWise Bancorp (NASDAQ:FINW) Stock Rating Upgraded by Zacks Research

FinWise Bancorp (NASDAQ:FINW) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Weiss Ratings downgraded FinWise Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Wall Street Zen downgraded FinWise Bancorp from a “hold” rating to a “sell” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, FinWise Bancorp has an average rating of “Hold” and an average price target of $22.00.

FinWise Bancorp Price Performance

FinWise Bancorp stock opened at $14.80 on Tuesday. The business has a 50 day moving average of $14.42 and a 200-day moving average of $16.16. FinWise Bancorp has a 1 year low of $12.82 and a 1 year high of $22.49. The company has a market capitalization of $202.91 million, a P/E ratio of 13.45 and a beta of 0.70.

FinWise Bancorp (NASDAQ:FINW) last issued its quarterly earnings data 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). The business had revenue of $24.33 million during the quarter, compared to the consensus estimate of $50.48 million. FinWise Bancorp had a net margin of 9.05% and a return on equity of 8.24%. Equities analysts anticipate that FinWise Bancorp will post 1.18 EPS for the current year.

FinWise Bancorp announced that its board has initiated a stock repurchase plan on Thursday, May 21st that allows the company to repurchase 685,000,000,000 shares. This repurchase authorization allows the company to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of FinWise Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of FINW. Alliancebernstein L.P. raised its position in FinWise Bancorp by 0.6% in the 3rd 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 last quarter. Wasatch Advisors LP boosted its holdings in FinWise Bancorp by 7.2% during the 3rd quarter. Wasatch Advisors LP now owns 754,543 shares of the company’s stock worth $14,631,000 after acquiring an additional 50,434 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of FinWise Bancorp by 0.4% in 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 in the last quarter. US Bancorp DE grew its stake in shares of FinWise Bancorp by 2.3% in the 4th quarter. US Bancorp DE now owns 439,048 shares of the company’s stock worth $7,877,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of FinWise Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 206,561 shares of the company’s stock worth $3,707,000 after acquiring an additional 2,416 shares in the last quarter. Institutional investors own 35.41% of the company’s stock.

FinWise Bancorp Company Profile

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.