FinWise Bancorp (NASDAQ:FINW) Receives Average Rating of “Hold” from Analysts

Shares of FinWise Bancorp (NASDAQ:FINW) have received an average rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $18.00.

Several analysts recently weighed in on FINW shares. Weiss Ratings reiterated a “hold (c)” rating on shares of FinWise Bancorp in a report on Monday. Stephens downgraded FinWise Bancorp from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a report on Thursday. Wall Street Zen cut FinWise Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Raymond James Financial reaffirmed an “outperform” rating and issued a $16.00 target price on shares of FinWise Bancorp in a research report on Friday, July 31st. Finally, Zacks Research cut shares of FinWise Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday.

FinWise Bancorp Stock Up 1.7%

FINW traded up $0.23 during trading on Thursday, reaching $14.34. The company’s stock had a trading volume of 1,656 shares, compared to its average volume of 23,520. The firm has a fifty day simple moving average of $14.20 and a two-hundred day simple moving average of $15.47. FinWise Bancorp has a 1 year low of $12.82 and a 1 year high of $22.49. The company has a market cap of $196.53 million, a price-to-earnings ratio of 14.93 and a beta of 0.70.

FinWise Bancorp (NASDAQ:FINW) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.09). FinWise Bancorp had a net margin of 6.76% and a return on equity of 7.10%. The firm had revenue of $24.38 million for the quarter, compared to analysts’ expectations of $47.11 million. As a group, equities analysts forecast that FinWise Bancorp will post 0.77 EPS for the current fiscal year.

FinWise Bancorp announced that its board has authorized a share repurchase program on Thursday, May 21st that authorizes the company to buyback 685,000,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Institutional Trading of FinWise Bancorp

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of FinWise Bancorp by 4,847.1% during the 4th quarter. Bank of America Corp DE now owns 3,463 shares of the company’s stock worth $55,000 after purchasing an additional 3,393 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in FinWise Bancorp during the first quarter worth approximately $104,000. Goldman Sachs Group Inc. lifted its position 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. Empowered Funds LLC grew its position in shares of FinWise Bancorp by 7.1% in the 1st quarter. Empowered Funds LLC now owns 24,052 shares of the company’s stock valued at $421,000 after buying an additional 1,591 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in FinWise Bancorp by 169.2% in the first quarter. Jane Street Group LLC now owns 33,196 shares of the company’s stock valued at $581,000 after acquiring an additional 20,866 shares during the last quarter. 35.41% of the stock is currently owned by hedge funds and other institutional investors.

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.