FinWise Bancorp (NASDAQ:FINW) Announces Quarterly Earnings Results

FinWise Bancorp (NASDAQ:FINW) posted its earnings results on Monday. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05, Yahoo Finance reports. The company had revenue of $23.11 million for the quarter, compared to analyst estimates of $19.68 million. FinWise Bancorp had a net margin of 18.63% and a return on equity of 11.20%. During the same period in the previous year, the business posted $0.29 EPS.

FinWise Bancorp Stock Performance

FinWise Bancorp stock opened at $10.61 on Wednesday. The company’s 50 day simple moving average is $9.89 and its 200-day simple moving average is $11.20. The company has a market capitalization of $136.02 million, a price-to-earnings ratio of 8.22 and a beta of 0.76. FinWise Bancorp has a 1 year low of $7.61 and a 1 year high of $14.98.

Analysts Set New Price Targets

Separately, Piper Sandler boosted their target price on shares of FinWise Bancorp from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th.

About FinWise Bancorp

FinWise Bancorp operates as the bank holding company for FinWise Bank that provides various banking products and services to individual and corporate customers in Utah. The company offers various deposit products, including interest and noninterest bearing demand accounts, health savings account demand deposits, NOW and money market accounts, and checking and savings accounts, as well as time deposits and certificates of deposits.