FinWise Bancorp (NASDAQ:FINW) Given Average Recommendation of “Hold” by Analysts

FinWise Bancorp (NASDAQ:FINW) has been assigned an average rating of “Hold” from the five ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $18.00.

A number of research firms recently issued reports on FINW. Stephens downgraded shares of FinWise Bancorp from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a report on Thursday, August 6th. Raymond James Financial reiterated an “outperform” rating and issued a $16.00 price target on shares of FinWise Bancorp in a report on Friday, July 31st. Wall Street Zen cut shares of FinWise Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Weiss Ratings restated a “hold (c)” rating on shares of FinWise Bancorp in a report on Monday, August 3rd. Finally, Zacks Research downgraded FinWise Bancorp from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd.

FinWise Bancorp Stock Performance

FinWise Bancorp stock opened at $14.11 on Monday. The stock has a market cap of $195.89 million, a PE ratio of 14.70 and a beta of 0.70. The stock has a 50-day moving average price of $14.07 and a 200 day moving average price of $14.99. FinWise Bancorp has a 52 week low of $12.82 and a 52 week high of $22.49.

FinWise Bancorp (NASDAQ:FINW) last released its earnings results 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 net margin of 6.76% and a return on equity of 7.04%. On average, equities analysts predict that FinWise Bancorp will post 0.77 EPS for the current year.

FinWise Bancorp declared that its board has authorized a stock repurchase plan on Thursday, May 21st that permits the company to repurchase 685,000,000,000 outstanding shares. This repurchase authorization permits the company to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of FinWise Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of FINW. BNP Paribas Financial Markets purchased a new stake in FinWise Bancorp during the second quarter worth approximately $25,000. California State Teachers Retirement System increased its holdings in FinWise Bancorp by 277.0% in the 2nd quarter. California State Teachers Retirement System now owns 1,900 shares of the company’s stock valued at $28,000 after purchasing an additional 1,396 shares in the last quarter. Bank of America Corp DE raised its position in FinWise Bancorp by 3,887.7% in the second quarter. Bank of America Corp DE now owns 2,911 shares of the company’s stock valued at $44,000 after purchasing an additional 2,838 shares during the period. Globeflex Capital L P purchased a new position in FinWise Bancorp in the second quarter valued at about $48,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of FinWise Bancorp during the second quarter worth about $65,000. 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.