FinWise Bancorp (NASDAQ:FINW) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Wall Street’s consensus rating is “Hold”: Five analysts include two buys, two holds and one sell, with an average 12-month price target of $18.00.
• FinWise Bancorp shares opened at $11.28, near the company’s 52-week low of $10.79 and below its 50-day and 200-day moving averages.
• The company reported quarterly EPS of $0.15, missing the $0.24 consensus estimate, while revenue of $54.34 million exceeded expectations of $47.11 million.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) has been given an average rating of "Hold" by the five analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $18.00.

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of FinWise Bancorp in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of FinWise Bancorp from a "strong sell" rating to a "sell" rating in a research note on Saturday, September 12th. Raymond James Financial reaffirmed an "outperform" rating and set a $16.00 price target on shares of FinWise Bancorp in a research note on Friday, July 31st. Zacks Research cut FinWise Bancorp from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. Finally, Stephens lowered 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.

FinWise Bancorp Price Performance

Shares of NASDAQ FINW opened at $11.28 on Friday. FinWise Bancorp has a 1 year low of $10.79 and a 1 year high of $21.15. The firm has a 50-day simple moving average of $13.59 and a two-hundred day simple moving average of $14.47. The company has a market cap of $156.57 million, a P/E ratio of 11.75 and a beta of 0.70.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.09). FinWise Bancorp had a net margin of 6.76% and a return on equity of 7.04%. The business had revenue of $54.34 million for the quarter, compared to the consensus estimate of $47.11 million. As a group, equities research analysts expect that FinWise Bancorp will post 0.77 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Globeflex Capital L P purchased a new position in FinWise Bancorp in the second quarter valued at about $48,000. Deutsche Bank AG purchased a new stake in FinWise Bancorp during the second quarter valued at approximately $139,000. IFP Advisors Inc purchased a new position in FinWise Bancorp in the second quarter worth $174,000. Squarepoint Ops LLC purchased a new stake in shares of FinWise Bancorp during the 2nd quarter valued at $174,000. Finally, Global Retirement Partners LLC purchased a new position in FinWise Bancorp during the 2nd quarter worth $178,000. 35.41% of the stock is currently owned by hedge funds and other institutional investors.

About FinWise Bancorp

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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