FinWise Bancorp (NASDAQ:FINW) Rating Lowered to Strong Sell at Zacks Research

FinWise Bancorp (NASDAQ:FINW) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

FINW has been the subject of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of FinWise Bancorp in a research note on Monday. Wall Street Zen lowered shares of FinWise Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Raymond James Financial restated an “outperform” rating and set a $16.00 target price on shares of FinWise Bancorp in a research report on Friday. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.00.

FinWise Bancorp Price Performance

FINW stock opened at $14.04 on Monday. FinWise Bancorp has a fifty-two week low of $12.82 and a fifty-two week high of $22.49. The stock has a market capitalization of $192.56 million, a price-to-earnings ratio of 14.63 and a beta of 0.70. The business’s fifty day moving average price is $14.20 and its two-hundred day moving average price is $15.50.

FinWise Bancorp (NASDAQ:FINW) last announced 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). FinWise Bancorp had a net margin of 6.76% and a return on equity of 7.10%. The business had revenue of $24.38 million during the quarter, compared to the consensus estimate of $47.11 million. Research analysts expect that FinWise Bancorp will post 0.77 EPS for the current year.

FinWise Bancorp announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 21st that allows the company to buyback 685,000,000,000 shares. This buyback authorization allows the company to purchase up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FINW. Militia Capital Management LLC acquired a new position in FinWise Bancorp during the first quarter worth about $498,000. Renaissance Technologies LLC lifted its holdings in shares of FinWise Bancorp by 16.8% in the first quarter. Renaissance Technologies LLC now owns 28,026 shares of the company’s stock worth $444,000 after acquiring an additional 4,026 shares during the last quarter. Globeflex Capital L P boosted its stake in shares of FinWise Bancorp by 292.1% in the 1st quarter. Globeflex Capital L P now owns 13,337 shares of the company’s stock valued at $212,000 after purchasing an additional 9,936 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of FinWise Bancorp by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 113,484 shares of the company’s stock valued at $1,800,000 after purchasing an additional 2,841 shares in the last quarter. Finally, Arcus Capital Partners LLC grew its holdings in shares of FinWise Bancorp by 28.5% during the 1st quarter. Arcus Capital Partners LLC now owns 13,074 shares of the company’s stock valued at $207,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors own 35.41% of the company’s stock.

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.