FinWise Bancorp (NASDAQ:FINW) Upgraded to Hold at Wall Street Zen

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

FINW has been the subject of several other reports. Zacks Research upgraded shares of FinWise Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, October 30th. Stephens downgraded FinWise Bancorp from an “overweight” rating to an “equal weight” rating and set a $16.00 target price on the stock. in a research report on Thursday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of FinWise Bancorp in a research note on Friday, October 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $15.00 price target on shares of FinWise Bancorp in a report on Thursday, October 29th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $15.50.

FinWise Bancorp Stock Up 0.1%

FINW opened at $13.68 on Friday. FinWise Bancorp has a 52 week low of $9.58 and a 52 week high of $19.86. The business’s fifty day simple moving average is $12.07 and its 200 day simple moving average is $14.47. The stock has a market cap of $189.88 million, a PE ratio of 10.13 and a beta of 0.70.

FinWise Bancorp (NASDAQ:FINW) last posted its earnings results on Wednesday, October 28th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.57. FinWise Bancorp had a return on equity of 9.78% and a net margin of 7.03%. The company had revenue of $33.02 million for the quarter, compared to the consensus estimate of $41.62 million. As a group, equities analysts anticipate that FinWise Bancorp will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On FinWise Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Globeflex Capital L P bought a new stake in shares of FinWise Bancorp during the 2nd quarter valued at approximately $48,000. Russell Investments Group Ltd. boosted its stake in shares of FinWise Bancorp by 70.8% in the third quarter. Russell Investments Group Ltd. now owns 6,329 shares of the company’s stock worth $71,000 after acquiring an additional 2,623 shares during the period. Deutsche Bank AG purchased a new stake in FinWise Bancorp in the second quarter worth $139,000. IFP Advisors Inc purchased a new position in FinWise Bancorp in the second quarter worth $174,000. Finally, Squarepoint Ops LLC acquired a new position in shares of FinWise Bancorp in the 2nd quarter valued at $174,000. 35.41% of the stock is currently owned by institutional investors and hedge funds.

About FinWise Bancorp

FinWise Bancorp is the bank holding company for FinWise Bank, a Utah-chartered financial institution headquartered in Murray, Utah. Through its subsidiary, the company provides banking and lending services to consumers, small businesses and commercial customers.

FinWise Bank operates a strategic lending platform that partners with fintech companies, loan originators and other third parties to support the origination and servicing of consumer and small-business loans. Its offerings also include commercial lending, small business lending, Small Business Administration loans, commercial real estate financing and other credit products.

The bank additionally serves customers through its Utah community banking business, which provides deposit accounts and traditional banking services.