FinWise Bancorp (NASDAQ:FINW) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• FinWise Bancorp has received a consensus recommendation of "Buy" from four research firms, with an average price target of $20.87.
• The stock recently traded down by 9.5%, closing at $18.44 with a market capitalization of approximately $249.29 million.
• In the second quarter, several institutional investors, including BNP Paribas and JPMorgan, have increased their stakes in FinWise Bancorp, indicating growing confidence in the company.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) has earned an average recommendation of "Buy" from the four research firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $20.8750.

Several brokerages have recently issued reports on FINW. Weiss Ratings reaffirmed a "hold (c)" rating on shares of FinWise Bancorp in a research report on Saturday, September 27th. Wall Street Zen raised FinWise Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th.

Institutional Investors Weigh In On FinWise Bancorp

A number of institutional investors have recently added to or reduced their stakes in FINW. BNP Paribas Financial Markets acquired a new stake in FinWise Bancorp during the second quarter worth about $25,000. Police & Firemen s Retirement System of New Jersey bought a new position in FinWise Bancorp in the 2nd quarter worth approximately $31,000. Bank of America Corp DE raised its position in FinWise Bancorp by 3,887.7% in the 2nd quarter. Bank of America Corp DE now owns 2,911 shares of the company's stock worth $44,000 after purchasing an additional 2,838 shares during the last quarter. JPMorgan Chase & Co. bought a new position in FinWise Bancorp in the 2nd quarter worth approximately $65,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in FinWise Bancorp in the 2nd quarter worth approximately $74,000. 35.41% of the stock is owned by institutional investors and hedge funds.

FinWise Bancorp Trading Down 9.5%

FinWise Bancorp stock traded down $1.93 during mid-day trading on Friday, hitting $18.44. 21,638 shares of the company's stock were exchanged, compared to its average volume of 26,745. The stock has a market cap of $249.29 million, a P/E ratio of 19.01 and a beta of 0.82. FinWise Bancorp has a 1-year low of $13.48 and a 1-year high of $22.49. The stock has a 50 day moving average of $19.19 and a two-hundred day moving average of $16.55.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.07. The company 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%. As a group, research analysts predict that FinWise Bancorp will post 1.03 EPS for the current fiscal year.

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.

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