Wasatch Advisors LP Sells 99,915 Shares of FinWise Bancorp $FINW

Wasatch Advisors LP cut its position in FinWise Bancorp (NASDAQ:FINW) by 16.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 502,201 shares of the company’s stock after selling 99,915 shares during the quarter. Wasatch Advisors LP owned about 3.66% of FinWise Bancorp worth $7,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Alliancebernstein L.P. increased its holdings in shares of FinWise Bancorp by 0.6% in the third quarter. Alliancebernstein L.P. now owns 771,701 shares of the company’s stock worth $14,963,000 after purchasing an additional 4,360 shares during the period. Vanguard Group Inc. boosted its stake in FinWise Bancorp by 0.4% during the third quarter. Vanguard Group Inc. now owns 487,323 shares of the company’s stock valued at $9,449,000 after buying an additional 1,739 shares during the period. US Bancorp DE boosted its stake in FinWise Bancorp by 2.3% during the fourth quarter. US Bancorp DE now owns 439,048 shares of the company’s stock valued at $7,877,000 after buying an additional 10,000 shares during the period. Geode Capital Management LLC grew its position in FinWise Bancorp by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 206,561 shares of the company’s stock worth $3,707,000 after buying an additional 2,416 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in FinWise Bancorp by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 113,484 shares of the company’s stock worth $1,800,000 after acquiring an additional 2,841 shares during the last quarter. 35.41% of the stock is owned by institutional investors.

FinWise Bancorp Stock Up 1.3%

NASDAQ FINW opened at $13.94 on Thursday. The stock’s 50-day simple moving average is $14.18 and its two-hundred day simple moving average is $15.33. FinWise Bancorp has a twelve month low of $12.82 and a twelve month high of $22.49. The company has a market capitalization of $191.12 million, a price-to-earnings ratio of 14.52 and a beta of 0.70.

FinWise Bancorp (NASDAQ:FINW) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The firm had revenue of $54.34 million during the quarter, compared to analysts’ expectations of $47.11 million. FinWise Bancorp had a return on equity of 7.10% and a net margin of 6.76%. On average, equities analysts expect that FinWise Bancorp will post 0.77 earnings per share for the current fiscal year.

FinWise Bancorp announced that its Board of Directors has initiated a stock buyback program on Thursday, May 21st that permits the company to repurchase 685,000,000,000 shares. This repurchase authorization permits the company to buy up to 5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have weighed in on FINW shares. Stephens cut FinWise Bancorp from an “overweight” rating to an “equal weight” rating and set a $16.00 price target on the stock. in a report on Thursday, August 6th. Wall Street Zen lowered FinWise Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings restated a “hold (c)” rating on shares of FinWise Bancorp in a research report on Monday, August 3rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $16.00 target price on shares of FinWise Bancorp in a research note on Friday, July 31st. Finally, Zacks Research lowered shares of FinWise Bancorp from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, FinWise Bancorp currently has an average rating of “Hold” and an average target price of $18.00.

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.