FinWise Bancorp (NASDAQ:FINW) Stock Rating Upgraded by Wall Street Zen

FinWise Bancorp (NASDAQ:FINW) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

FINW has been the topic of a number of other research reports. Weiss Ratings lowered FinWise Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Zacks Research raised FinWise Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.00.

FinWise Bancorp Stock Performance

NASDAQ FINW traded down $0.18 during trading hours on Friday, reaching $13.88. The company’s stock had a trading volume of 32,199 shares, compared to its average volume of 41,339. The company’s 50-day moving average is $14.14 and its two-hundred day moving average is $15.99. FinWise Bancorp has a fifty-two week low of $12.82 and a fifty-two week high of $22.49. The stock has a market cap of $190.29 million, a PE ratio of 12.62 and a beta of 0.70.

FinWise Bancorp (NASDAQ:FINW) last announced its earnings results 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). FinWise Bancorp had a return on equity of 8.24% and a net margin of 9.05%.The business had revenue of $24.33 million for the quarter, compared to analyst estimates of $50.48 million. Equities analysts expect that FinWise Bancorp will post 1.18 earnings per share for the current fiscal year.

FinWise Bancorp declared that its Board of Directors has authorized a share repurchase program on Thursday, May 21st that allows the company to buyback 685,000,000,000 outstanding shares. This buyback authorization allows the company to buy up to 5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On FinWise Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in FinWise Bancorp by 109.3% during the second quarter. Geode Capital Management LLC now owns 204,323 shares of the company’s stock worth $3,068,000 after purchasing an additional 106,683 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of FinWise Bancorp by 7.2% during the 3rd quarter. Wasatch Advisors LP now owns 754,543 shares of the company’s stock valued at $14,631,000 after buying an additional 50,434 shares during the period. Militia Capital Management LLC acquired a new stake in shares of FinWise Bancorp during the 1st quarter worth $498,000. Goldman Sachs Group Inc. increased its holdings in shares of FinWise Bancorp by 186.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 40,136 shares of the company’s stock worth $703,000 after buying an additional 26,115 shares during the last quarter. Finally, Militia Capital Partners LP raised its position in shares of FinWise Bancorp by 49.2% in the 2nd quarter. Militia Capital Partners LP now owns 74,601 shares of the company’s stock worth $1,120,000 after buying an additional 24,601 shares during the period. 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.