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,Wall Street Zen reports.

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

FinWise Bancorp Trading Up 0.6%

NASDAQ FINW opened at $11.39 on Friday. The firm has a market capitalization of $158.09 million, a P/E ratio of 11.86 and a beta of 0.70. The business has a fifty day simple moving average of $13.50 and a 200 day simple moving average of $14.40. FinWise Bancorp has a 12 month low of $10.79 and a 12 month high of $20.77.

FinWise Bancorp (NASDAQ:FINW) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate 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 net margin of 6.76% and a return on equity of 7.04%. As a group, sell-side analysts predict that FinWise Bancorp will post 0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On FinWise Bancorp

Several large investors have recently made changes to their positions in FINW. BlackRock Inc. purchased a new stake in FinWise Bancorp during the second quarter worth about $7,549,000. Militia Capital Management LLC purchased a new position in FinWise Bancorp in the first quarter valued at about $498,000. EP Wealth Advisors LLC purchased a new position in FinWise Bancorp in the second quarter valued at about $345,000. Empowered Funds LLC bought a new position in shares of FinWise Bancorp during the 2nd quarter valued at approximately $341,000. Finally, Bank of New York Mellon Corp bought a new position in shares of FinWise Bancorp during the 2nd quarter valued at approximately $306,000. 35.41% of the stock is owned by hedge funds and other institutional investors.

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.