FinWise Bancorp (NASDAQ:FINW) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of FinWise Bancorp (NASDAQ:FINW) from a strong sell rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

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

FinWise Bancorp Trading Down 0.9%

FINW opened at $13.33 on Friday. The company’s fifty day moving average price is $13.90 and its two-hundred day moving average price is $14.76. FinWise Bancorp has a 1-year low of $12.82 and a 1-year high of $22.49. The company has a market cap of $185.02 million, a price-to-earnings ratio of 13.89 and a beta of 0.70.

FinWise Bancorp (NASDAQ:FINW) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). The business had revenue of $54.34 million during the quarter, compared to the consensus estimate of $47.11 million. FinWise Bancorp had a net margin of 6.76% and a return on equity of 7.04%. As a group, equities analysts forecast that FinWise Bancorp will post 0.77 earnings per share for the current fiscal year.

FinWise Bancorp announced that its Board of Directors has approved a stock buyback plan on Thursday, May 21st that permits the company to repurchase 685,000,000,000 shares. This repurchase authorization permits the company to buy up to 5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. grew its position in FinWise Bancorp by 0.6% in the 3rd quarter. Alliancebernstein L.P. now owns 771,701 shares of the company’s stock worth $14,963,000 after purchasing an additional 4,360 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of FinWise Bancorp by 7.2% during the 3rd quarter. Wasatch Advisors LP now owns 754,543 shares of the company’s stock worth $14,631,000 after buying an additional 50,434 shares in the last quarter. BlackRock Inc. purchased a new position in shares of FinWise Bancorp in the 2nd quarter worth approximately $7,549,000. Vanguard Group Inc. boosted its stake in shares of FinWise Bancorp by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 487,323 shares of the company’s stock worth $9,449,000 after buying an additional 1,739 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of FinWise Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 206,561 shares of the company’s stock worth $3,707,000 after buying an additional 2,416 shares during the last quarter. 35.41% of the stock is currently owned by hedge funds and other institutional investors.

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.