FinWise Bancorp (NASDAQ:FINW) Releases Earnings Results, Beats Expectations By $0.54 EPS

Key Points

• FinWise Bancorp reported quarterly EPS of $0.73, exceeding analyst expectations of $0.19 by $0.54. However, quarterly revenue of $33.02 million fell short of the $41.62 million consensus estimate.
• Shares rose 3.5% to $10.82 following the results, but remain below their 50-day and 200-day moving averages and well under the 12-month high of $19.86.
• Analyst sentiment remains mixed, with the stock carrying an overall “Hold” rating and a consensus price target of $16.00; ratings range from Buy to Sell.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) released its earnings results on Wednesday. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.54, FiscalAI reports. The company had revenue of $33.02 million for the quarter, compared to analysts' expectations of $41.62 million. FinWise Bancorp had a net margin of 6.76% and a return on equity of 7.04%.

FinWise Bancorp Stock Up 3.5%

FinWise Bancorp stock traded up $0.37 during midday trading on Wednesday, reaching $10.82. 51,817 shares of the stock traded hands, compared to its average volume of 26,483. The stock's fifty day moving average is $12.22 and its 200-day moving average is $14.66. FinWise Bancorp has a 12 month low of $9.58 and a 12 month high of $19.86. The stock has a market cap of $150.21 million, a P/E ratio of 11.27 and a beta of 0.73.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FINW shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of FinWise Bancorp in a research note on Monday, August 3rd. Raymond James Financial reissued an "outperform" rating and set a $16.00 target price on shares of FinWise Bancorp in a research note on Friday, July 31st. Stephens cut FinWise Bancorp from an "overweight" rating to an "equal weight" rating and set a $16.00 price target on the stock. in a report on Thursday, August 6th. Zacks Research downgraded FinWise Bancorp from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen raised shares of FinWise Bancorp from a "strong sell" rating to a "sell" rating in a report on Saturday, October 17th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, FinWise Bancorp has an average rating of "Hold" and a consensus price target of $16.00.

FinWise Bancorp Company Profile

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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