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

Zacks Research downgraded shares of FinWise Bancorp (NASDAQ:FINW) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of FinWise Bancorp in a report 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.00.

FinWise Bancorp Trading Up 0.2%

Shares of FINW stock opened at $16.74 on Monday. The company has a market capitalization of $227.50 million, a P/E ratio of 14.81 and a beta of 0.82. The business’s 50 day moving average is $17.62 and its two-hundred day moving average is $18.36. FinWise Bancorp has a twelve month low of $13.48 and a twelve month high of $22.49.

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

Institutional Trading of FinWise Bancorp

A number of hedge funds have recently bought and sold shares of FINW. Global Retirement Partners LLC acquired a new position in shares of FinWise Bancorp in the 2nd quarter worth approximately $405,000. Cubist Systematic Strategies LLC bought a new position in FinWise Bancorp during the first quarter worth $104,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in FinWise Bancorp in the second quarter worth $74,000. JPMorgan Chase & Co. acquired a new position in FinWise Bancorp in the second quarter worth $65,000. Finally, BNP Paribas Financial Markets increased its stake in FinWise Bancorp by 76.9% during the third quarter. BNP Paribas Financial Markets now owns 2,890 shares of the company’s stock valued at $56,000 after purchasing an additional 1,256 shares during the last quarter. 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.