BlackRock Inc. purchased a new position in shares of FinWise Bancorp (NASDAQ:FINW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 520,593 shares of the company's stock, valued at approximately $7,549,000. BlackRock Inc. owned approximately 3.80% of FinWise Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in FinWise Bancorp during the second quarter valued at about $25,000. Bank of America Corp DE grew its stake in shares of FinWise Bancorp by 3,887.7% during the second quarter. Bank of America Corp DE now owns 2,911 shares of the company's stock valued at $44,000 after buying an additional 2,838 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of FinWise Bancorp in the second quarter worth about $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of FinWise Bancorp in the 2nd quarter valued at about $74,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of FinWise Bancorp in the 1st quarter valued at about $104,000. 35.41% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
FINW has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of FinWise Bancorp in a research note on Monday, August 3rd. Stephens lowered FinWise Bancorp from an "overweight" rating to an "equal weight" rating and set a $16.00 price objective for the company. in a research note on Thursday, August 6th. Raymond James Financial restated an "outperform" rating and issued a $16.00 target price on shares of FinWise Bancorp in a report on Friday, July 31st. Zacks Research downgraded shares of FinWise Bancorp from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen cut shares of FinWise Bancorp from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, FinWise Bancorp presently has a consensus rating of "Hold" and a consensus price target of $18.00.
View Our Latest Stock Analysis on FinWise Bancorp
FinWise Bancorp Price Performance
NASDAQ:FINW opened at $13.98 on Friday. FinWise Bancorp has a one year low of $12.82 and a one year high of $22.49. The company's 50-day simple moving average is $14.00 and its 200 day simple moving average is $14.88. The firm has a market capitalization of $194.04 million, a P/E ratio of 14.56 and a beta of 0.70.
FinWise Bancorp (NASDAQ:FINW - Get Free Report) last issued its quarterly 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 return on equity of 7.04% and a net margin of 6.76%.The company had revenue of $54.34 million during the quarter, compared to the consensus estimate of $47.11 million. On average, equities research analysts expect that FinWise Bancorp will post 0.77 earnings per share for the current fiscal year.
FinWise Bancorp declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 21st that permits the company to repurchase 685,000,000,000 outstanding shares. This repurchase authorization permits the company to reacquire up to 5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.
FinWise Bancorp Company Profile
(
Free Report)
FinWise Bancorp is the bank holding company for FinWise Bank, a digital‐first community bank headquartered in Lindon, Utah. The company specializes in providing commercial lending and deposit products to marketplace lending platforms, fintech companies and small to mid‐sized businesses across the United States. FinWise Bancorp operates through its wholly owned subsidiary, FinWise Bank, which is FDIC‐insured and leverages a technology‐driven model to deliver banking services efficiently.
The company's primary business activities include participant financing arrangements for marketplace lenders and other fintech platforms, as well as direct commercial loans.
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