Wall Street Zen Upgrades FinWise Bancorp (NASDAQ:FINW) to "Hold"

Key Points

• Wall Street Zen has upgraded FinWise Bancorp from a "sell" rating to a "hold" rating, reflecting a shift in investor sentiment.
• Hovde Group has reduced its price target for the stock from $19.00 to $18.50, maintaining an "outperform" rating.
• FinWise Bancorp reported earnings per share of $0.29 for the last quarter, exceeding expectations and indicating strong revenue of $25.07 million.

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

Separately, Hovde Group lowered their price target on shares of FinWise Bancorp from $19.00 to $18.50 and set an "outperform" rating on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, FinWise Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.88.

FinWise Bancorp Stock Performance

NASDAQ FINW opened at $17.29 on Friday. FinWise Bancorp has a twelve month low of $11.31 and a twelve month high of $20.94. The stock has a market cap of $228.57 million, a price-to-earnings ratio of 17.82 and a beta of 0.80. The firm's 50 day moving average price is $14.92 and its two-hundred day moving average price is $16.18.

FinWise Bancorp (NASDAQ:FINW - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.07. FinWise Bancorp had a net margin of 12.72% and a return on equity of 7.79%. The firm had revenue of $25.07 million for the quarter, compared to analysts' expectations of $22.36 million. On average, research analysts forecast that FinWise Bancorp will post 1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On FinWise Bancorp

Large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of FinWise Bancorp by 4,847.1% during the fourth quarter. Bank of America Corp DE now owns 3,463 shares of the company's stock worth $55,000 after purchasing an additional 3,393 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of FinWise Bancorp during the first quarter worth approximately $104,000. Citadel Advisors LLC acquired a new position in shares of FinWise Bancorp during the fourth quarter worth approximately $175,000. Barclays PLC lifted its position in shares of FinWise Bancorp by 269.2% during the fourth quarter. Barclays PLC now owns 11,204 shares of the company's stock worth $179,000 after purchasing an additional 8,169 shares in the last quarter. Finally, PFG Investments LLC acquired a new position in shares of FinWise Bancorp during the first quarter worth approximately $179,000. 35.41% of the stock is currently owned by institutional investors and hedge funds.

FinWise Bancorp Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.