Zacks Research Downgrades FinWise Bancorp (NASDAQ:FINW) to Strong Sell

FinWise Bancorp (NASDAQ:FINW) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Separately, Wall Street Zen downgraded FinWise Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.00.

FinWise Bancorp Trading Down 2.0%

FinWise Bancorp stock opened at $13.68 on Monday. FinWise Bancorp has a 1-year low of $13.48 and a 1-year high of $22.49. The company has a fifty day simple moving average of $16.15 and a 200 day simple moving average of $17.35. The company has a market cap of $187.55 million, a P/E ratio of 12.44 and a beta of 0.74.

FinWise Bancorp (NASDAQ:FINW) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.13). The business had revenue of $24.33 million for the quarter, compared to analyst estimates of $50.48 million. FinWise Bancorp had a return on equity of 8.33% and a net margin of 9.05%. On average, equities research analysts forecast that FinWise Bancorp will post 1.18 EPS for the current year.

Institutional Investors Weigh In On FinWise Bancorp

Large investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. lifted its holdings in FinWise Bancorp by 0.6% during the 3rd quarter. Alliancebernstein L.P. now owns 771,701 shares of the company’s stock valued at $14,963,000 after purchasing an additional 4,360 shares during the last quarter. Wasatch Advisors LP raised its position in shares of 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 purchasing an additional 50,434 shares during the period. Vanguard Group Inc. raised its position 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 valued at $9,449,000 after purchasing an additional 1,739 shares during the period. US Bancorp DE lifted its stake in shares of FinWise Bancorp by 2.3% during the 4th quarter. US Bancorp DE now owns 439,048 shares of the company’s stock worth $7,877,000 after buying an additional 10,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of FinWise Bancorp by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 206,561 shares of the company’s stock worth $3,707,000 after buying an additional 2,416 shares during 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.