Zacks Research cut shares of FinWise Bancorp (NASDAQ:FINW – Free Report) from a hold rating to a strong sell rating in a research report sent to investors on Monday morning,Zacks.com reports.
Separately, Wall Street Zen downgraded shares of FinWise Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.00.
Check Out Our Latest Stock Analysis on FinWise Bancorp
FinWise Bancorp Stock Performance
FinWise Bancorp (NASDAQ:FINW – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.13). The company had revenue of $24.33 million during the quarter, compared to the consensus estimate of $50.48 million. FinWise Bancorp had a return on equity of 8.33% and a net margin of 9.05%. As a group, equities analysts predict that FinWise Bancorp will post 1.18 EPS for the current year.
Institutional Trading of FinWise Bancorp
A number of large investors have recently modified their holdings of FINW. Wells Fargo & Company MN increased its holdings in FinWise Bancorp by 68.0% during the 4th quarter. Wells Fargo & Company MN now owns 10,283 shares of the company’s stock worth $184,000 after purchasing an additional 4,163 shares during the period. Deutsche Bank AG raised its position in FinWise Bancorp by 12.7% during the 4th quarter. Deutsche Bank AG now owns 9,611 shares of the company’s stock valued at $172,000 after purchasing an additional 1,086 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in shares of FinWise Bancorp in the 2nd quarter worth $108,000. Cubist Systematic Strategies LLC purchased a new stake in shares of FinWise Bancorp in the 1st quarter worth $104,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of FinWise Bancorp during the 2nd quarter worth $74,000. Hedge funds and other 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.
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