FinWise Bancorp (NASDAQ:FINW) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of FinWise Bancorp (NASDAQ:FINW) from a hold rating to a sell rating in a report released on Saturday morning.

Other research analysts also recently issued research reports about the company. Weiss Ratings downgraded FinWise Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Raymond James Financial restated an “outperform” rating and set a $16.00 target price on shares of FinWise Bancorp in a research note on Friday. Finally, Zacks Research raised FinWise Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, FinWise Bancorp currently has an average rating of “Moderate Buy” and an average price target of $19.00.

FinWise Bancorp Trading Up 3.9%

FinWise Bancorp stock opened at $14.29 on Friday. The company has a fifty day simple moving average of $14.20 and a 200-day simple moving average of $15.53. The stock has a market cap of $195.92 million, a P/E ratio of 14.89 and a beta of 0.70. FinWise Bancorp has a 12-month low of $12.82 and a 12-month high of $22.49.

FinWise Bancorp (NASDAQ:FINW) last posted its earnings results on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.09). The business had revenue of $24.38 million during the quarter, compared to analysts’ expectations of $47.11 million. FinWise Bancorp had a net margin of 6.76% and a return on equity of 7.10%. As a group, sell-side analysts forecast that FinWise Bancorp will post 1.18 earnings per share for the current fiscal year.

FinWise Bancorp announced that its board has approved a stock repurchase plan on Thursday, May 21st that allows the company to repurchase 685,000,000,000 shares. This repurchase authorization allows the company to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in FinWise Bancorp in the second quarter valued at $25,000. Bank of America Corp DE boosted its stake 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 buying an additional 2,838 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of FinWise Bancorp during the second quarter worth about $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of FinWise Bancorp during the second quarter worth about $74,000. Finally, Cubist Systematic Strategies LLC acquired a new position in FinWise Bancorp in the 1st quarter valued at about $104,000. 35.41% of the stock is owned by hedge funds and other 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.