FinWise Bancorp (NASDAQ:FINW) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• FinWise Bancorp has a consensus “Hold” rating from five analysts: two Buys, two Holds, and one Sell. The average 12-month price target is $18.00, above the recent share price of $14.34.
• The company reported quarterly earnings of $0.15 per share, missing the $0.24 consensus estimate, while revenue of $24.38 million came in well below the $47.11 million forecast.
• Institutional investors own 35.41% of the stock, and recent trading activity pushed shares up 1.7%; the stock remains below its 12-month high of $22.49.

Shares of FinWise Bancorp (NASDAQ:FINW - Get Free Report) have been given a consensus recommendation of "Hold" by the five research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $18.00.

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of FinWise Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Stephens downgraded FinWise Bancorp from an "overweight" rating to an "equal weight" rating and set a $16.00 price target for the company. in a research report on Thursday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of FinWise Bancorp in a research note on Monday. Zacks Research lowered FinWise Bancorp from a "hold" rating to a "strong sell" rating in a research report on Monday. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $16.00 price target on shares of FinWise Bancorp in a research note on Friday, July 31st.

Institutional Trading of FinWise Bancorp

Several large investors have recently added to or reduced their stakes in FINW. BNP Paribas Financial Markets bought a new position in FinWise Bancorp in the 2nd quarter valued at $25,000. Bank of America Corp DE increased its position 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 worth $44,000 after acquiring an additional 2,838 shares during the period. JPMorgan Chase & Co. bought a new position in FinWise Bancorp in the second quarter worth approximately $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in FinWise Bancorp during the 2nd quarter valued at $74,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of FinWise Bancorp during the first quarter valued at $104,000. 35.41% of the stock is currently owned by institutional investors.

FinWise Bancorp Trading Up 1.7%

FinWise Bancorp stock traded up $0.23 during trading hours on Thursday, reaching $14.34. 1,656 shares of the stock were exchanged, compared to its average volume of 23,520. The stock has a 50 day moving average of $14.20 and a two-hundred day moving average of $15.47. The company has a market cap of $196.53 million, a P/E ratio of 14.93 and a beta of 0.70. FinWise Bancorp has a twelve month low of $12.82 and a twelve month high of $22.49.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.09). FinWise Bancorp had a net margin of 6.76% and a return on equity of 7.10%. The company had revenue of $24.38 million for the quarter, compared to analyst estimates of $47.11 million. On average, analysts expect that FinWise Bancorp will post 0.77 earnings per share for the current fiscal year.

FinWise Bancorp announced that its board has approved a share repurchase program on Thursday, May 21st that authorizes the company to repurchase 685,000,000,000 shares. This repurchase authorization authorizes the company to buy up to 5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

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.

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