Weiss Ratings Reiterates “Hold (C)” Rating for FinWise Bancorp (NASDAQ:FINW)

FinWise Bancorp (NASDAQ:FINW)‘s stock had its “hold (c)” rating reissued by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen raised FinWise Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.88.

FinWise Bancorp Stock Up 3.2%

Shares of FinWise Bancorp stock opened at $18.99 on Wednesday. The firm’s 50 day moving average is $19.27 and its two-hundred day moving average is $16.58. The firm has a market capitalization of $256.73 million, a P/E ratio of 19.58 and a beta of 0.82. FinWise Bancorp has a 52 week low of $13.48 and a 52 week high of $22.49.

FinWise Bancorp (NASDAQ:FINW) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.07. The company had revenue of $25.07 million for the quarter, compared to analyst estimates of $22.36 million. FinWise Bancorp had a return on equity of 7.70% and a net margin of 12.72%. As a group, research analysts expect that FinWise Bancorp will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FinWise Bancorp

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in shares of FinWise Bancorp during the 2nd quarter worth approximately $25,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of FinWise Bancorp during the 2nd quarter worth approximately $31,000. Bank of America Corp DE boosted its stake in shares of FinWise Bancorp by 3,887.7% during the 2nd quarter. Bank of America Corp DE now owns 2,911 shares of the company’s stock worth $44,000 after acquiring an additional 2,838 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of FinWise Bancorp during the 2nd quarter worth approximately $65,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of FinWise Bancorp during the 2nd quarter worth approximately $74,000. Hedge funds and other institutional investors own 35.41% of the company’s stock.

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.