FinWise Bancorp (NASDAQ:FINW) Downgraded by Wall Street Zen to Strong Sell

Key Points

• Wall Street Zen downgraded FinWise Bancorp to “strong sell” from “sell,” adding to recent negative analyst sentiment.
• Analyst views remain mixed: Raymond James maintained an “outperform” rating with a $16 target, while Zacks Research also issued a “strong sell” rating. The overall consensus is “Hold,” with an $18 target price.
• FinWise reported quarterly EPS of $0.15, below the $0.24 consensus estimate, although revenue of $54.34 million exceeded expectations. The stock opened at $11.32, near its 52-week low, while institutional ownership stands at 35.41%.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $16.00 target price on shares of FinWise Bancorp in a research note on Friday, July 31st. Zacks Research cut shares of FinWise Bancorp from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of FinWise Bancorp in a report on Monday, August 3rd. Finally, Stephens downgraded shares of FinWise Bancorp from an "overweight" rating to an "equal weight" rating and set a $16.00 price objective for the company. in a report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, FinWise Bancorp currently has a consensus rating of "Hold" and a consensus target price of $18.00.

FinWise Bancorp Price Performance

FINW opened at $11.32 on Friday. The firm has a market cap of $157.12 million, a P/E ratio of 11.79 and a beta of 0.70. FinWise Bancorp has a 1-year low of $10.79 and a 1-year high of $20.86. The company has a 50 day simple moving average of $13.54 and a two-hundred day simple moving average of $14.44.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last announced its quarterly earnings data 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 7.04%. The firm had revenue of $54.34 million for the quarter, compared to the consensus estimate of $47.11 million. Equities analysts anticipate that FinWise Bancorp will post 0.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FINW. BlackRock Inc. purchased a new position in shares of FinWise Bancorp in the 2nd quarter worth $7,549,000. Militia Capital Management LLC purchased a new stake in shares of FinWise Bancorp during the 1st quarter valued at about $498,000. EP Wealth Advisors LLC bought a new position in shares of FinWise Bancorp in the 2nd quarter valued at about $345,000. Empowered Funds LLC bought a new position in shares of FinWise Bancorp in the 2nd quarter valued at about $341,000. Finally, Bank of New York Mellon Corp purchased a new position in FinWise Bancorp in the second quarter worth about $306,000. 35.41% of the stock is owned by hedge funds and other institutional investors.

FinWise Bancorp Company Profile

FinWise Bancorp is the bank holding company for FinWise Bank, a Utah-chartered financial institution headquartered in Murray, Utah. The company provides traditional banking services while focusing on technology-enabled lending and partnerships with financial technology companies.

Through FinWise Bank, the company offers deposit products, including checking and savings accounts and certificates of deposit, as well as commercial, small-business and consumer lending. Its partnership platform works with fintech companies and other third parties to support loan origination, servicing, compliance and related banking functions.

FinWise serves customers through its digital banking and nationwide partnership model, while maintaining a presence in Utah.

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