FinWise Bancorp (NASDAQ:FINW) Cut to Hold at Zacks Research

FinWise Bancorp (NASDAQ:FINW) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of FinWise Bancorp in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.00.

FinWise Bancorp Trading Down 0.6%

Shares of FINW opened at $16.71 on Monday. FinWise Bancorp has a twelve month low of $13.48 and a twelve month high of $22.49. The firm has a market capitalization of $227.09 million, a P/E ratio of 14.79 and a beta of 0.82. The stock’s fifty day simple moving average is $17.64 and its 200 day simple moving average is $18.37.

FinWise Bancorp (NASDAQ:FINW) last posted its earnings results on Thursday, January 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). FinWise Bancorp had a return on equity of 8.82% and a net margin of 10.66%.The business had revenue of $26.36 million for the quarter, compared to analyst estimates of $42.32 million. Sell-side analysts predict that FinWise Bancorp will post 1.03 earnings per share for the current year.

Institutional Trading of FinWise Bancorp

Hedge funds have recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new position in FinWise Bancorp during the 4th quarter worth $192,000. Millennium Management LLC bought a new position in shares of FinWise Bancorp in the fourth quarter valued at $224,000. Bridgeway Capital Management LLC lifted its holdings in shares of FinWise Bancorp by 0.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 88,889 shares of the company’s stock valued at $1,595,000 after purchasing an additional 700 shares during the last quarter. Barclays PLC boosted 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 worth $263,000 after buying an additional 1,786 shares during the period. Finally, State Street Corp boosted its stake in FinWise Bancorp by 10.8% in the 4th quarter. State Street Corp now owns 86,148 shares of the company’s stock worth $1,545,000 after purchasing an additional 8,429 shares during the period. 35.41% of the stock is currently owned by institutional investors.

FinWise Bancorp Company Profile

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.