Alliancebernstein L.P. Has $14.19 Million Stake in FinWise Bancorp $FINW

Key Points

• Alliancebernstein L.P. has reduced its stake in FinWise Bancorp by 17.7%, selling 174,519 shares and retaining about 810,266 shares valued at approximately $14.19 million.
• FinWise Bancorp reported earnings of $0.29 per share, exceeding analysts’ estimates of $0.22, and generating revenue of $25.07 million for the quarter.
• Analysts have upgraded FinWise Bancorp from a "sell" to a "hold" rating, with an average consensus price target of $20.88 and four analysts rating it as a "Buy."

Alliancebernstein L.P. cut its holdings in shares of FinWise Bancorp (NASDAQ:FINW - Free Report) by 17.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 810,266 shares of the company's stock after selling 174,519 shares during the period. Alliancebernstein L.P. owned approximately 6.13% of FinWise Bancorp worth $14,188,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FINW. Northern Trust Corp lifted its holdings in shares of FinWise Bancorp by 24.2% in the fourth quarter. Northern Trust Corp now owns 16,296 shares of the company's stock valued at $260,000 after purchasing an additional 3,179 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of FinWise Bancorp in the fourth quarter valued at about $197,000. Bank of America Corp DE lifted its holdings in shares of FinWise Bancorp by 4,847.1% in the fourth quarter. Bank of America Corp DE now owns 3,463 shares of the company's stock valued at $55,000 after purchasing an additional 3,393 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of FinWise Bancorp in the fourth quarter valued at about $175,000. Finally, Millennium Management LLC bought a new stake in shares of FinWise Bancorp in the fourth quarter valued at about $679,000. 35.41% of the stock is currently owned by institutional investors.

FinWise Bancorp Price Performance

NASDAQ FINW traded up $0.17 during trading on Wednesday, reaching $19.82. 21,293 shares of the company's stock were exchanged, compared to its average volume of 11,043. The business has a 50 day moving average price of $18.11 and a 200-day moving average price of $16.35. The stock has a market capitalization of $267.97 million, a P/E ratio of 20.43 and a beta of 0.83. FinWise Bancorp has a fifty-two week low of $13.48 and a fifty-two week high of $20.94.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.07. The firm had revenue of $25.07 million for the quarter, compared to the consensus estimate of $22.36 million. FinWise Bancorp had a return on equity of 7.70% and a net margin of 12.72%. On average, analysts forecast that FinWise Bancorp will post 1.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded FinWise Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, FinWise Bancorp presently has a consensus rating of "Buy" and an average target price of $20.88.

About FinWise Bancorp

FinWise Bancorp operates as the bank holding company for FinWise Bank that provides various banking products and services to individual and corporate customers in Utah. The company offers various deposit products, including interest and noninterest bearing demand accounts, health savings account demand deposits, NOW and money market accounts, and checking and savings accounts, as well as time deposits and certificates of deposits.