FinWise Bancorp (NASDAQ:FINW) Stock Lifted to Hold by Wall Street Zen

Key Points

• Wall Street Zen upgraded FinWise Bancorp from “sell” to “hold.” Across analysts, the stock’s average rating is “Hold,” with a consensus price target of $15.50.
• FinWise reported quarterly earnings of $0.76 per share, beating the $0.19 consensus estimate, while revenue of $33.02 million came in below the $41.62 million forecast.
• Shares opened at $13.68, below the $15.50 consensus target. The stock’s 12-month range is $9.58 to $19.86.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

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

FinWise Bancorp Trading Up 0.1%

FINW opened at $13.68 on Friday. The stock has a market capitalization of $189.88 million, a P/E ratio of 10.13 and a beta of 0.70. The firm's fifty day simple moving average is $12.07 and its 200 day simple moving average is $14.47. FinWise Bancorp has a 12 month low of $9.58 and a 12 month high of $19.86.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported $0.76 earnings per share 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 business had revenue of $33.02 million during the quarter, compared to the consensus estimate of $41.62 million. On average, equities research analysts predict that FinWise Bancorp will post 1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in shares of FinWise Bancorp by 70.8% during the third quarter. Russell Investments Group Ltd. now owns 6,329 shares of the company's stock worth $71,000 after purchasing an additional 2,623 shares in the last quarter. IFP Advisors Inc acquired a new stake in shares of FinWise Bancorp in the second quarter valued at $174,000. Squarepoint Ops LLC bought a new position in FinWise Bancorp during the second quarter valued at approximately $174,000. Arcus Capital Partners LLC increased its holdings in FinWise Bancorp by 92.3% in the 2nd quarter. Arcus Capital Partners LLC now owns 25,140 shares of the company's stock valued at $365,000 after buying an additional 12,066 shares during the period. Finally, Empowered Funds LLC bought a new position in FinWise Bancorp in the second quarter valued at approximately $341,000. Institutional investors own 35.41% of the company's stock.

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.

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