FinWise Bancorp (NASDAQ:FINW) Stock Rating Upgraded by Wall Street Zen

Key Points

• FinWise Bancorp was upgraded by Wall Street Zen from “sell” to “hold”, though the stock still carries a mixed analyst picture with a consensus rating of Hold and an average price target of $22.00.
• The company’s latest earnings report missed expectations, posting $0.20 EPS versus the $0.33 estimate and revenue of $24.33 million versus the expected $50.48 million.
• FINW was trading at $13.53, near its 52-week low of $13.30 and well below its 52-week high of $22.49, while institutional investors own about 35.41% of the shares.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday.

FINW has been the topic of a number of other reports. Zacks Research downgraded shares of FinWise Bancorp from a "hold" rating to a "strong sell" rating in a research note on Monday, May 4th. Weiss Ratings cut shares of FinWise Bancorp from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $22.00.

FinWise Bancorp Stock Performance

NASDAQ FINW opened at $13.53 on Friday. The business has a 50 day simple moving average of $16.04 and a 200 day simple moving average of $17.29. The stock has a market cap of $185.44 million, a price-to-earnings ratio of 12.30 and a beta of 0.74. FinWise Bancorp has a 52-week low of $13.30 and a 52-week high of $22.49.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.13). FinWise Bancorp had a return on equity of 8.33% and a net margin of 9.05%.The company had revenue of $24.33 million for the quarter, compared to analyst estimates of $50.48 million. On average, analysts predict that FinWise Bancorp will post 1.18 EPS for the current year.

Hedge Funds Weigh In On FinWise Bancorp

Institutional investors have recently modified their holdings of the business. Empowered Funds LLC boosted its stake in FinWise Bancorp by 7.1% in the first quarter. Empowered Funds LLC now owns 24,052 shares of the company's stock valued at $421,000 after buying an additional 1,591 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in FinWise Bancorp during the fourth quarter worth about $192,000. Wells Fargo & Company MN raised its stake in FinWise Bancorp by 68.0% during the fourth quarter. Wells Fargo & Company MN now owns 10,283 shares of the company's stock worth $184,000 after acquiring an additional 4,163 shares in the last quarter. New York State Common Retirement Fund bought a new position in shares of FinWise Bancorp in the second quarter worth about $108,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of FinWise Bancorp in the 1st quarter valued at approximately $104,000. Institutional investors and hedge funds 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.

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