FinWise Bancorp (NASDAQ:FINW) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of FinWise Bancorp (NASDAQ:FINW) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks.com reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of FinWise Bancorp in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.00.

FinWise Bancorp Stock Performance

FINW stock opened at $16.71 on Monday. The firm has a market cap of $227.09 million, a P/E ratio of 14.79 and a beta of 0.82. The firm’s fifty day moving average is $17.64 and its 200 day moving average is $18.37. FinWise Bancorp has a 52 week low of $13.48 and a 52 week high of $22.49.

FinWise Bancorp (NASDAQ:FINW) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.08). FinWise Bancorp had a net margin of 10.66% and a return on equity of 8.82%. The business had revenue of $26.36 million for the quarter, compared to analysts’ expectations of $42.32 million. As a group, analysts forecast that FinWise Bancorp will post 1.03 EPS for the current year.

Institutional Trading of FinWise Bancorp

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in FinWise Bancorp during the 2nd quarter valued at about $25,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of FinWise Bancorp in the 2nd quarter worth approximately $31,000. Bank of America Corp DE increased its stake in shares of FinWise Bancorp by 3,887.7% during the second quarter. Bank of America Corp DE now owns 2,911 shares of the company’s stock valued at $44,000 after buying an additional 2,838 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of FinWise Bancorp during the second quarter valued at approximately $65,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of FinWise Bancorp during the second quarter valued at approximately $74,000. 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.