Wall Street Zen cut shares of FinWise Bancorp (NASDAQ:FINW – Free Report) from a sell rating to a strong sell rating in a report issued on Saturday,Wall Street Zen reports.
FINW has been the topic of several other reports. Zacks Research downgraded FinWise Bancorp from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of FinWise Bancorp in a research report on Monday, August 3rd. Stephens downgraded FinWise Bancorp from an “overweight” rating to an “equal weight” rating and set a $16.00 target price for the company. in a research note on Thursday, August 6th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $16.00 target price on shares of FinWise Bancorp in a report on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.00.
Read Our Latest Stock Analysis on FinWise Bancorp
FinWise Bancorp Stock Up 0.4%
FinWise Bancorp (NASDAQ:FINW – Get Free Report) 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). The company had revenue of $54.34 million for the quarter, compared to the consensus estimate 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 0.72 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in FINW. IFP Advisors Inc bought a new stake in shares of FinWise Bancorp in the second quarter valued at about $174,000. Squarepoint Ops LLC acquired a new stake in FinWise Bancorp during the second quarter worth about $174,000. Arcus Capital Partners LLC increased its stake in FinWise Bancorp by 92.3% during the second quarter. Arcus Capital Partners LLC now owns 25,140 shares of the company’s stock valued at $365,000 after acquiring an additional 12,066 shares during the period. Empowered Funds LLC bought a new position in FinWise Bancorp during the second quarter valued at about $341,000. Finally, Globeflex Capital L P bought a new position in FinWise Bancorp during the second quarter valued at about $48,000. 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 Utah-chartered financial institution headquartered in Murray, Utah. The company provides traditional banking services while focusing on technology-enabled lending and partnerships with financial technology companies.
Through FinWise Bank, the company offers deposit products, including checking and savings accounts and certificates of deposit, as well as commercial, small-business and consumer lending. Its partnership platform works with fintech companies and other third parties to support loan origination, servicing, compliance and related banking functions.
FinWise serves customers through its digital banking and nationwide partnership model, while maintaining a presence in Utah.
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