FinWise Bancorp (NASDAQ:FINW) Lowered to "Strong Sell" Rating by Zacks Research

Key Points

• Zacks Research downgraded FinWise Bancorp from "hold" to "strong sell", and Wall Street Zen cut its rating to "sell", although the consensus rating remains "Hold" with a $22.00 average price target.
• FinWise posted a notable earnings miss — Q EPS $0.20 vs. $0.33 expected and revenue $24.33M vs. $50.48M expected — and the stock opened at $13.68 (down ~2%), trading near its 12‑month low with a market cap of about $187.6M.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Wall Street Zen lowered shares of FinWise Bancorp from a "hold" rating to a "sell" rating in a report on Saturday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $22.00.

FinWise Bancorp Stock Down 2.0%

Shares of FINW opened at $13.68 on Monday. The stock's fifty day simple moving average is $16.15 and its 200-day simple moving average is $17.35. The firm has a market capitalization of $187.55 million, a PE ratio of 12.44 and a beta of 0.74. FinWise Bancorp has a 12-month low of $13.48 and a 12-month high of $22.49.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.13). FinWise Bancorp had a return on equity of 8.33% and a net margin of 9.05%.The firm had revenue of $24.33 million during the quarter, compared to analyst estimates of $50.48 million. Analysts anticipate that FinWise Bancorp will post 1.18 EPS for the current year.

Hedge Funds Weigh In On FinWise Bancorp

A number of large investors have recently added to or reduced their stakes in FINW. Barclays PLC lifted its holdings in shares of FinWise Bancorp by 13.9% in the fourth quarter. Barclays PLC now owns 14,634 shares of the company's stock valued at $263,000 after purchasing an additional 1,786 shares in the last quarter. Millennium Management LLC bought a new position in shares of FinWise Bancorp during the fourth quarter worth about $224,000. EP Wealth Advisors LLC bought a new position in shares of FinWise Bancorp during the fourth quarter worth about $192,000. Deutsche Bank AG raised its position in FinWise Bancorp by 12.7% in the 4th quarter. Deutsche Bank AG now owns 9,611 shares of the company's stock valued at $172,000 after buying an additional 1,086 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in FinWise Bancorp in the 2nd quarter valued at approximately $108,000. Institutional investors own 35.41% of the company's stock.

About FinWise Bancorp

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.