FinWise Bancorp (NASDAQ:FINW) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded FinWise Bancorp from “strong sell” to “sell,” while broader analyst coverage remains mixed with an average “Hold” rating and an $18.00 target price.
• FinWise shares opened at $10.68, near their 12-month low of $10.49 and below both their 50-day and 200-day moving averages.
• The company reported quarterly earnings of $0.15 per share, missing the $0.24 consensus estimate, despite revenue of $54.34 million exceeding expectations.

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

Other equities research analysts have also issued research reports about the stock. Raymond James Financial reiterated an "outperform" rating and set a $16.00 price objective on shares of FinWise Bancorp in a report on Friday, July 31st. Stephens downgraded shares of FinWise Bancorp from an "overweight" rating to an "equal weight" rating and set a $16.00 target price on the stock. in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of FinWise Bancorp in a research report on Monday, August 3rd. Finally, Zacks Research downgraded shares of FinWise Bancorp from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, FinWise Bancorp has an average rating of "Hold" and an average target price of $18.00.

FinWise Bancorp Stock Down 0.7%

FINW stock opened at $10.68 on Friday. The business's fifty day simple moving average is $12.68 and its two-hundred day simple moving average is $13.94. FinWise Bancorp has a twelve month low of $10.49 and a twelve month high of $19.86. The firm has a market cap of $148.24 million, a price-to-earnings ratio of 11.12 and a beta of 0.73.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.09). The business had revenue of $54.34 million for the quarter, compared to the consensus estimate of $47.11 million. FinWise Bancorp had a return on equity of 7.04% and a net margin of 6.76%. Research analysts expect that FinWise Bancorp will post 0.72 EPS for the current year.

Hedge Funds Weigh In On FinWise Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in FinWise Bancorp in the second quarter valued at about $7,549,000. Dimensional Fund Advisors LP grew its stake in shares of FinWise Bancorp by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 113,484 shares of the company's stock worth $1,800,000 after acquiring an additional 2,841 shares during the last quarter. Militia Capital Management LLC acquired a new position in shares of FinWise Bancorp during the first quarter valued at about $498,000. Renaissance Technologies LLC increased its holdings in shares of FinWise Bancorp by 16.8% during the first quarter. Renaissance Technologies LLC now owns 28,026 shares of the company's stock valued at $444,000 after acquiring an additional 4,026 shares in the last quarter. Finally, Arcus Capital Partners LLC increased its holdings in shares of FinWise Bancorp by 92.3% during the second quarter. Arcus Capital Partners LLC now owns 25,140 shares of the company's stock valued at $365,000 after acquiring an additional 12,066 shares in the last quarter. 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 federally insured Utah-chartered financial institution headquartered in Murray, Utah. The company provides banking and lending services to consumers, small businesses and commercial customers.

FinWise Bank operates a technology-focused banking platform that works with fintech companies and other business partners to originate and service consumer and small-business loans. Its activities include personal lending, commercial lending, Small Business Administration lending, loan servicing and deposit products.

Through its partner-based model, FinWise Bank provides program management, compliance support, underwriting and other banking services that enable third-party companies to offer financial products.

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