FinWise Bancorp (NASDAQ:FINW) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of FinWise Bancorp (NASDAQ:FINW) from a sell rating to a strong sell rating in a research report sent to investors on Saturday.

Several other research firms have also recently issued reports on FINW. Raymond James Financial reissued an “outperform” rating and set a $16.00 target price on shares of FinWise Bancorp in a research note on Friday, July 31st. Zacks Research lowered FinWise Bancorp from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of FinWise Bancorp in a report on Monday, August 3rd. Finally, Stephens downgraded FinWise Bancorp from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective for the company. in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.00.

FinWise Bancorp Price Performance

NASDAQ:FINW opened at $13.71 on Friday. The company’s 50-day moving average is $14.14 and its two-hundred day moving average is $15.24. FinWise Bancorp has a 1-year low of $12.82 and a 1-year high of $22.49. The firm has a market capitalization of $190.29 million, a price-to-earnings ratio of 14.28 and a beta of 0.70.

FinWise Bancorp (NASDAQ:FINW) last announced its quarterly 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 for the quarter, compared to analyst estimates of $47.11 million. FinWise Bancorp had a return on equity of 7.04% and a net margin of 6.76%. As a group, equities analysts anticipate that FinWise Bancorp will post 0.77 earnings per share for the current fiscal year.

FinWise Bancorp declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 21st that allows the company to repurchase 685,000,000,000 shares. This repurchase authorization allows the company to buy up to 5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On FinWise Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new position in FinWise Bancorp in the 2nd quarter valued at approximately $25,000. Bank of New York Mellon Corp purchased a new stake in shares of FinWise Bancorp during the second quarter worth $306,000. Deutsche Bank AG purchased a new stake in shares of FinWise Bancorp during the second quarter worth $139,000. BlackRock Inc. purchased a new stake in shares of FinWise Bancorp during the second quarter worth $7,549,000. Finally, Globeflex Capital L P acquired a new stake in shares of FinWise Bancorp in the second quarter valued at $48,000. 35.41% of the stock is currently owned by institutional investors and hedge funds.

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.